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SP500: Bulls climb higher

Fundamental analysis:

The S&P 500 index closed up 68.07 points, or 1.75%, at 3,960.00 on March 16 (Thursday); the number of Americans filing for unemployment benefits recorded the largest drop since July last year, of which the number of people filing for unemployment benefits in New York fell The largest, offsetting most of the increase in initial jobless claims in the previous week.

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

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising strongly, short-term bullish sentiment emerges, the bullish momentum continues to rise, the MACD indicator moves upward on the upper side of the 0 axis, and the RSI indicator hovers weakly above the 50 balance line;

Resistance: 4010 4025

Support level: 3971 3954

Trading strategy: Bullish above 3987, target 4010 4025
Alternative strategy: bearish below 3987, target 3971 3954

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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