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SP500: A sharp drop at a high level
2023-01-19
1055
Fundamental analysis:
The S&P 500 index closed down 61.97 points, or 1.55%, at 3,929.00 points on Wednesday, January 18; at the end of the holiday shopping season, U.S. retail sales fell more than expected as consumers faced the worst Severe inflation and higher borrowing costs. U.S. retail sales fell 1.1% month-on-month in December, after the previous month's data was revised down to -1%. Core retail sales fell 0.7%.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has fallen rapidly, the market is shrouded in short-term sentiment, the short-term decline may continue, the MACD indicator is in the bullish area and continues to decline, and the RSI indicator is below the 50 balance line and moves downward;
Long and short turning point: 3950
Suppression: 3964, 3979
Support: 3931, 3917
Trading strategy: bearish below 3950, target 3931, 3917
Alternative strategy: call above 3950, target 3964, 3979
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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