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SP500: High level oscillation moves up
2022-11-21
1104
Fundamental analysis:
The S&P 500 index rose 18.78 points, or 0.48%, to 3965.34, down 0.69% this week. After a month long strong rebound, it fell back slightly. The previous rise was helped by weaker than expected inflation data, prompting people to believe that the Federal Reserve may soften its stance on radical interest rate hikes.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the high short-term shock retreats, the short-term consolidation, the bulls wait for an opportunity to move up, and short-term bullish sentiment starts to emerge. The MACD index hovers around the 0 axis, and the RSI index is in the weak consolidation near the 50 equilibrium line;
Empty turning point: 3967
Pressing: 3994, 4017
Support: 3944, 3920
Trading strategy: bullish above 3967, target 3994, 4017
Alternative strategy: 3967 bearish, 3944 and 3920 targets
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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