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S & P: high short down

2022-06-30
1193
Fundamental analysis:

The S & P 500 index closed down 2.72 points, or 0.07%, at 3818.83 points on Wednesday, June 29; The Federal Reserve is "rapidly" raising interest rates and striving to enter the field of restricting economic growth as soon as possible. Believing that the economy will avoid recession, he warned that if the problem of high inflation is not solved and allowed to continue, it will bring greater pain to the economy.


S & P SP500 - 4-hour K-line diagram display:



Technical analysis:


According to the 4-hour chart, the power of high short positions continued to vibrate and retreat, tangled in the narrow consolidation and translation of the lower rail section in the Bollinger belt index channel, the Bollinger belt index began to open slowly after it showed a closing trend, MACD was in the long position and retreated to the vicinity of the 0 axis, RSI index was in the narrow consolidation below the 50 balance line;


Long short turning point: 3846


Pressing position: 3881, 3919


Support position: 3791, 3758


Trading strategy: 3846 bearish below, target 3791, 3758


Alternative strategy: bullish above 3846, goals 3881 and 3919

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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