SP500: Bears tumble sharply
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
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