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SP500: Bulls soaring

2022-10-24
1125
Fundamental analysis:

The S&P 500 index closed up 86.37 points, or 2.36%, at 3752.15 on October 21 (Friday); US Department of Finance: The US budget deficit in September was 429.7 billion US dollars, compared with 64.9 billion US dollars in the same period last year. The budget gap of the United States in fiscal year 2022 narrowed by 50% to $1.38 trillion.


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



Technical analysis:


The 4-hour chart shows that short positions are weak and decline, short-term consolidation, bulls surge rapidly, market bulls surge, MACD indicators hover around the 0 axis, and RSI indicators move up on the 50 balanced online side;


Empty turning point: 3755


Pressing: 3784, 3805


Support: 3733, 3710


Trading strategy: bullish above 3755, target 3784, 3805


Alternative strategy: 3755 bearish, target 3733, 3710

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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