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SP500: Arrangement of low position and weak position
2022-10-11
1169
Fundamental analysis:
The S&P 500 index closed 26.16 points lower, or 0.72%, at 3613.50 on October 10 (Monday); The Bank of America report shows that the unemployment rate in the United States will reach a peak of 5.5% next year; In contrast, the Federal Reserve expects the unemployment rate to reach 4.4% next year.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the short selling power has fallen rapidly, and the low position weak position has been sorted out in a narrow range. The short selling power continues to move downward after a short period of wandering. The MACD indicator is in the low position narrow range sorting in the short position area, and the RSI indicator is in the short position area and remains weak;
Empty turning point: 3637
Pressing: 3653, 3672
Support: 3607, 3590
Trading strategy: 3637 lower bearish, target 3607, 3590
Alternative strategy: bullish above 3637, target 3653, 3672
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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