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S & P: high volatility

2022-06-23
1195
Fundamental analysis:

On June 22 (Wednesday), the S & P 500 index closed down 5.09 points, or 0.14%, at 3759.75; The S & P 500 index has only seven trading days left until the end of June. The index has fallen by 21% since the beginning of the year due to concerns about high inflation and the hawkish stance of the Federal Reserve.


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




Technical analysis:


According to the 4-hour chart, the low-level Bull Power kept moving up, and the upper rail section in the Bollinger belt index channel continued to consolidate. The short-term Bull Power showed signs of continuing to move up, the Bollinger belt index continued to close, the MACD index kept moving up to the 0 axis line in the short area, and the RSI index was in the weak consolidation near the 50 equilibrium line;


Long short turning point: 3757


Pressing position: 3795, 3830


Support position: 3709, 3670


Trading strategy: bullish above 3757, target 3795, 3830


Alternative strategy: bearish below 3757, target 3709, 3670

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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