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SP500: high level continuous oscillation
2022-08-08
1258
Fundamental analysis:
The S & P 500 index closed down 7.64 points, or 0.18%, at 4144.30 on Friday, August 5; The number of non-agricultural employment in the United States in July was more than twice that expected, indicating that the employment demand was very strong, especially in the service industry with labor shortage, which eased people's worries about economic recession.
S & P SP500 - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the power of high short positions has fallen in the short term, but the bulls have also shown a pull-up trend. The market is high or remains in shock consolidation. The MACD index is in the high consolidation of long positions, and the RSI index is in the vicinity of the pullback of long positions to the 0 axis;
Long and short turning point: 4139
Pressing position: 4178, 4205
Support position: 4114, 4087
Trading strategy: bullish above 4139, targets 4178 and 4205
Alternative strategy: bearish below 4139, targets 4114 and 4087
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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