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SP500: bulls pull up

2023-02-01
931
Fundamental analysis:

The S&P 500 index closed up 58.49 points, or 1.46%, at 4076.26 points on Tuesday, January 31; if the Fed shows a more dovish stance on wage growth and inflation, the dollar may be in trouble as the market Rate cut expectations may be firmer unless the Fed sounds surprisingly hawkish to markets.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level long-term dynamics fluctuated rapidly and pulled up, the market was shrouded in bullish sentiment, the short-term long-term dynamics continued to move upward, the MACD indicator was hovering above the 0 axis, and the RSI indicator was on the side of the 50 balance line.

Long and short turning point: 4077

Suppression: 4094, 4104
Support: 4065, 4054

Trading strategy: Bullish above 4077, target 4094, 4104
Alternative strategy: bearish below 4077, target 4065, 4054

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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