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SP500: High climb

2023-01-24
490
Fundamental analysis:

On January 23 (Monday), the S&P 500 index closed up 46.74 points, or 1.18%, to 4019.35 points; more and more unfavorable factors for the U.S. economy have brought a lot of uncertainty to the Federal Reserve’s monetary policy stance. The S&P 500 is pricing in a 73% chance of a recession, down from a high of 98% last year.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level bulls are constantly oscillating and rising, the short-term bullish trend is good, the market bulls are constantly pulling up, the MACD indicator is in the bullish zone and slowly rising, and the RSI indicator is in the bullish zone.

Long and short turning point: 4026

Compression: 4044, 4055
Support: 4014, 4001

Trading strategy: Bullish above 4026, target 4044, 4055
Alternative strategy: bearish below 4026, target 4014, 4001

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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