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SP500: Bulls soar
2022-12-01
1116
Fundamental analysis:
On November 30 (Wednesday), the S&P 500 Index closed up 119.37 points, or 3.02%, to 4077.00 points; the annualized quarterly rate of actual GDP in the third quarter of the United States was revised up by 0.2% to 2.9% from the initial value. GDP growth was better than the preliminary estimate, reflecting upward revisions to consumer spending and business investment.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The momentum of the bulls has soared rapidly. After breaking through the previous high, there is a strong upward trend. The market as a whole is in a strong upward trend. The MACD indicator is in a weak preference near the 0 axis, and the RSI indicator is on the side of the 50 balance line.
Long and short turning point: 4082
Suppression: 4098, 4109
Support: 4071, 4059
Trading strategy: Bullish above 4082, target 4098, 4109
Alternative strategy: bearish below 4082, target 4071, 4059
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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