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