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SP500: Bull strong pull up

2022-08-01
1231
Fundamental analysis:

On July 29 (Friday), the S & P 500 index closed up 58.62 points, or 1.44%, at 4131.05; The initial annualized quarterly rate of real GDP in the United States in the second quarter was -0.9%. When other economists predicted that GDP would grow, the Atlanta Fed's forecast was -1.2%, 0.3 percentage points lower than the published value. The next forecast will be released on August 1.



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



Technical analysis:


According to the 4-hour chart, the bull momentum maintains a good momentum of shock and rise, and the short-term bull pull-up trend may continue. The MACD index is at the high level of the bull region and moves up slowly, and the RSI index is hovering near the 80 equilibrium line in the overbought area;


Long short turning point: 4121


Pressing position: 4165, 5192


Support position: 4094, 4069


Trading strategy: bullish above 4121, targets 4165, 5192


Alternative strategy: bearish below 4121, targets 4094, 4069

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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