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SP500: Bears tumble sharply

2023-05-24
851
Fundamental analysis:

On May 23 (Tuesday), the S&P 500 index closed down 46.33 points, or 1.11%, to 4146.30 points; a survey conducted by the National Association for Business Economics in May showed that 98% of respondents expected that the inflation rate will Remain elevated, above the 2% average inflation the Fed seeks.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum has fallen rapidly, and the short-term decline has not stopped. The market is shrouded in short-term sentiment, and there is a trend of continuing to move downward. Weak side arrangement;

Resistance: 4176 4187

Support: 4148 4138

Trading strategy: bearish below 4166, target 4148 4138
Alternative strategy: call above 4166, target 4176 4187

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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