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SP500: high finishing

Fundamental analysis:

The S&P 500 index closed up 1.15 points, or 0.03%, at 4137.40 points on Monday, May 8; current data show that, compared with the historical situation where the Fed’s last interest rate hike was a good buying opportunity, inflation has risen and the economy The slowdown was even greater.

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

Brief technical analysis:

Looking at the 4-hour chart: After the bullish momentum pulled up strongly, the high level fluctuated within a narrow range, and the bullish sentiment in the market has weakened. The MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order above the 50 balance line;

Resistance: 4160 4159

Support level: 4139 4131

Trading strategy: Bullish above 4147, target 4160 4159
Alternative strategy: bearish below 4147, target 4139 4131

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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