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SP500: bull surge

2022-11-11
596
Fundamental analysis:

The S&P 500 index closed up 203.68 points, or 5.43%, at 3952.25 on November 10 (Thursday); The number of Americans applying for unemployment benefits for the week ended November 5 was 225000, expected to be 220000, with a previous value of 217000. The interest rate swap market lowered the expectation that the Federal Reserve would raise interest rates by 75 basis points in December.


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



Technical analysis:


The 4-hour chart shows that the bulls' momentum has risen rapidly, short-term bullish sentiment has emerged, and the market bulls maintain bullish sentiment. The MACD index is at the top of the 0 axis, and the RSI index is at the top of the 50 balanced online side;


Empty turning point: 3953


Pressing: 3974, 3991


Support: 3939, 3820


Trading strategy: bullish above 3953, target 3974, 3991



Alternative strategy: bearish under 3953, target 3939, 3820

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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