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SP500: high narrow finishing up

2022-08-04
1273
Fundamental analysis:

The S & P 500 index closed up 62.57 points, or 1.53%, at 4153.76 points on Wednesday, August 3; PMI final value of Markit service industry in July: the tightening financial environment means that the financial service industry is leading the economic slowdown, and the Federal Reserve will further significantly raise interest rates, because the data may aggravate the economic downturn.


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



Technical analysis:


According to the 4-hour chart, the high level maintains a narrow consolidation, the long-term momentum continues to pull up, and the medium and short-term bullish sentiment may continue. The MACD index is in the long area to maintain a consolidation and translation, and the RSI index is in the 50 balanced online side weak;


Long short turning point: 4139


Pressing position: 4178, 4205


Support position: 4114, 4087


Trading strategy: bullish above 4139, targets 4178, 4205


Alternative strategies: bearish below 4139, goals 4114, 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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