S & P: maintaining weakness

The S & P 500 index closed up 5.03 points, or 0.14%, at 3671.80 on Friday, June 17; The largest weekly decline since march2020. The fear of economic recession caused by the radical tightening of the Federal Reserve made the three major stock indexes record a large decline this week. On Monday, the NYSE is closed for June Festival.

According to the 4-hour chart, the short power maintained in the lower rail section of the Bollinger belt index channel and moved downward in a step-by-step vibration. After the low level reached the nodes near the lower rail for many times, it reversed and moved upward. After touching the nodes near the middle rail of the Bollinger belt index, it began to close after the Bollinger belt index showed an opening trend. The MACD index remained in the short area and moved upward in a shock while the RSI index remained in the short area and moved upward in a shock;

Multi empty turning point: 3700

Pressing position: 3754, 3788

Support position: 3661, 3631

Trading strategy: bullish above 3700, target 3754, 3788

Alternative strategy: bearish below 3700, goals 3661 and 3631