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S & P: strong climb

2022-07-20
1180
Fundamental analysis:

On July 19 (Tuesday), the S & P 500 index closed up 101.25 points, or 2.64%, at 3932.10 points; The S & P 500 index surged 2.8%, its highest closing level since June 9. More companies followed the footsteps of big banks and announced earnings that exceeded expectations, which relieved investors who were worried about rising inflation and the impact of the Fed's tightening policies on corporate profits.


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



Technical analysis:


According to the 4-hour chart, the Bull Power maintained the huge earthquake rise, the short-term Bull Power did not show any signs of stopping, the MACD index was at the high level of the bull region, finishing and moving up, and the RSI index showed that the bull region remained hovering;


Long short turning point: 3933


Pressing position: 3961, 3979


Support position: 3919, 3902


Trading strategy: bullish above 3933, targets 3961, 3979


Alternative strategy: down below 3933, targets 3919, 3902



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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