The growth rate of personal consumption expenditure (PCE) favored by the Federal Reserve in April was higher than expected

Fundamental analysis:

The New York Stock Exchange is closed on Memorial Day. The Dow Jones index closed up 576.36 points, or 1.77%, at 33213.55 points on Friday, May 27; At the close of the US stock market, the three major stock indexes closed higher and the Dow initially closed higher. The data showed that consumer spending was still strong at a time of continued high inflation, which was a positive outlook for corporate profits; Compared with March, the growth of PCE price index has slowed down. Although it is still close to the high growth rate in the past 40 years, the market speculates that it may be a sign that inflation has peaked. The pace of interest rate hike by the Federal Reserve is expected to slow down slightly, the US dollar index and US bond yield have softened, and large technology stocks and semiconductor stocks have strengthened.

Dow Jones dj30 - 4-hour K-line chart display:

Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise, and the high level reached the node near 33161. The short-term bull power continued to rise, and the Bollinger belt index continued to open its mouth slowly. The MACD index was in the process of maintaining the fluctuation and rising in the bull region, and the RSI index was in the process of maintaining the fluctuation and rising in the bull region and finishing below the 80 equilibrium line in the overbought region;

Multi empty turning point: 33053

Pressing position: 33485, 33801

Support position: 32764, 32475

Trading strategy: bullish above 33053, target 33485, 33801

Alternative strategy: bearish below 33053, target 32764, 32475

The above analysis is a personal point of view and is for reference only.