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SP500: Bears tumble sharply
2022-12-07
1097
Fundamental analysis:
The S&P 500 index closed down 57.58 points, or 1.44%, at 3941.26 points on December 6 (Tuesday). The narrowing of the trade deficit was one of the main factors behind the rebound in U.S. economic growth in the third quarter. The trade deficit widened sharply in October, suggesting trade could be a drag on GDP in the current quarter.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline has not stopped, the market is in a good short position, the MACD indicator is in the short-selling area and is down, and the RSI indicator is in the short-selling area to maintain consolidation;
Long-short turning point: 3948
Suppression: 3962, 3975
Support: 3930, 3919
Trading strategy: bearish below 3948, target 3930, 3919
Alternative strategy: call above 3948, target 3962, 3975
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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