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SP500: High climbing

2022-11-14
506
Fundamental analysis:

The S&P 500 index closed up 34.98 points, or 0.88%, at 3991.35 on November 11 (Friday); The Federal Reserve is likely to raise interest rates by 50 basis points in December. The market expected that the probability of the Federal Reserve raising interest rates by 50 basis points in December was as high as 90%, and only 10% was possible to raise interest rates by 75 basis points.


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



Technical analysis:


The 4-hour chart shows that the high level continues to move up, the short-term bullish sentiment remains, the market bull trend is good, the MACD index hovers at the high level in the bull region, and the RSI index is at the high level in the bull region;


Empty turning point: 3995


Pressing: 4018, 4033


Support: 3976, 3961


Trading strategy: bullish above 3995, target 4018, 4033


Alternative strategy: bearish under 3995, target 3976, 3961

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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