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SP500: Bears tumble sharply

2023-05-03
829
Fundamental analysis:

The S&P 500 index closed down 48.60 points, or 1.17%, at 4119.27 points on May 2 (Tuesday); the New York Stock Exchange will immediately suspend the stock trading of First Republic Bank, and the 8 securities of First Republic Bank will be suspended immediately. delisted.

S&P SP500 - 4-hour K-line chart shows:



Brief technical analysis:

The 4-hour chart: The short-term momentum fluctuated and fell rapidly, and the short-term reversal moved upwards, but the market was shrouded in short-term sentiment, and the trend continued to move downward in the short-term. The MACD index was in the bullish area and moved down to hover around the 0 axis. The RSI index was at a balance of 50 Weakness on the offline side;

Resistance: 4147 4157

Support level: 4123 4115

Trading strategy: bearish below 4138, target 4123 4115
Alternative strategy: call above 4138, target 4147 4157

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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