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SP500: High bit uplink

2022-11-24
1061
Fundamental analysis:

The S&P 500 index closed up 24.75 points, or 0.62%, at 4028.33 on November 23 (Wednesday); Consumer confidence fell 5% from October, offsetting about a third of the increase since the historic low in June. In addition to the continuing impact of inflation, rising borrowing costs, declining asset values and weakening labor market expectations also weighed on consumer confidence.


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



Technical analysis:

The 4-hour chart shows that the power of high bulls is slowly rising, the market is still bullish, and it continues to move upward in the short term. The MACD index is slowly rising on the upper side of the 0 axis, and the RSI index is at the high level in the long region;

Empty turning point: 4023

Pressing: 4056, 4074

Support: 4001, 3981

Trading strategy: bullish above 4023, target 4056, 4074

Alternative strategy: bearish lower 4023, target 4001, 3981

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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