S & P: Back a low position
Basic face analysis:
On Tuesday (August 22), the Ministry of Fed's discount interest rate conference showed that the most important local Fed sought for the sidelines. The three major indexes of the U.S. stocks rose and declined, and the S & P 500 index fell 0.28%. In July, US -running sales fell far from expected. The market was waiting for Powell and Lagardes to speak on Friday, and S & P influenced the influence of banking rating by many US regional banks worldwide.
SP500 four -hour chart
Looking at the 4-hour chart, after the S & P rebounded 4440, it was blocked again. The MACD volume could shrink the amount under the zero axis. The market trend is still weak. The resistance follows near 4450, and supports 4370-4350.
Resistance position: 4450 4480
Support bit: 4370 4350
Trading strategy: 4370 to watch the bullish, target 4450 4500
Alternative strategy: Below 4370, go to see the drop, target 4350 4300
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