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SP500: Bears tumble sharply
2022-12-12
1097
Fundamental analysis:
The S&P 500 index closed down 29.35 points, or 0.74%, at 3934.16 points on Friday, December 9; the Fed’s balance sheet has dropped from a record high of $8.96 trillion in May 2022 to $8.58 in December. trillion, but still more than double the pre-epidemic scale of $4.15 trillion at the end of February 2020.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: The short-term momentum has fallen sharply at a low level, and the short-term decline may continue. The overall bearish sentiment in the market has emerged. The MACD indicator is in the bearish area, and the RSI indicator is hovering weakly below the 50 balance line
Long-short turning point: 3942
Suppression: 3955, 3967
Support: 3923, 3910
Trading strategy: bearish below 3942, target 3923, 3910
Alternative strategy: call above 3942, target 3955, 3967
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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