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SP500: bearish shock pullback
2022-10-07
1118
Fundamental analysis:
The S&P 500 index closed down 38.48 points, or 1.02%, at 3744.80 on October 6 (Thursday); Strategists rated the global technology stocks as overweight, and predicted that the healthcare and technology industries would maintain a fairly good performance in the economic downturn. He said that in the context of shrinking global earnings per share, the United States is "more defensive than other markets".
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the high level will maintain a short-term range shock, the short power will wait for the opportunity to enter the market and start to move slowly downward. The MACD indicator will maintain a narrow range in the long area, and the RSI indicator will remain weak near the 50 equilibrium line;
Empty turning point: 3760
Pressing: 3785, 3811
Support: 3725, 3802
Trading strategy: bearish under 3760, target 3725, 3802
Alternative strategy: bullish above 3760, target 3785, 3811
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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