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SP500: Bulls rise strongly
2022-10-05
1168
Fundamental analysis:
The S&P 500 index closed up 112.30 points, or 3.05%, at 3790.73 on October 4 (Tuesday); The decline in the number of JOLTs job vacancies in the United States in August exceeded expectations and fell to a low point for more than a year, indicating that although labor demand is still strong, it is slowing down.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' momentum is strong, the short-term bullish sentiment continues to emerge, and there is no sign that the bulls' momentum has stopped. The MACD indicator stays in the bulls' area and keeps rising, while the RSI indicator stays in the bulls' area and keeps finishing up;
Empty turning point: 3790
Pressing position: 3829, 3855
Support position: 3764, 3737
Trading strategy: bullish above 3790, target 3829, 3855
Alternative strategy: bearish under 3790, target 3764, 3737
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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