Sino-US relations usher in dawn, S&P 500 recovers slightly

A brief analysis of the fundamentals:

On Monday (May 23), U.S. President Biden said during his visit to Japan that he was considering removing some tariff barriers against China, and investors were concerned about the prospects of international trade and the U.S. economy. The S&P 500 rebounded modestly to close at 3940.15. After a stormy sell-off, U.S. stocks have ushered in a brief breathing space. This week, the focus is on the performance of the minutes of the Fed's meeting. The market will look for the rhythm and clues of the rate hike from the Fed's top management.

S&P 500 SP500 4-hour chart

A brief technical analysis:

From the 4-hour chart, the S&P 500 fluctuated and stabilized, the signs of sideways fluctuations were obvious, the moving average system was flat, the MACD green column was shortened, the RSI indicator was flat, and the probability of intraday sideways fluctuations was high.

Long and short turning point: 3900.00

Resistance: 4060.00 4200.00

Support level: 3800.00 3680.00

Trading strategy: bullish above 3900.00, target 4060.00 4200.00

Alternative strategy: bearish below 3900.00, target 3800.00 3680.00