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SP500: High level sharp rise
2022-10-31
1138
Fundamental analysis:
The S&P 500 index closed up 93.25 points, or 2.45%, at 3900.55 on October 28 (Friday); According to data from the US Department of Labor, the employment cost index, which measures wages and benefits, increased by 1.2% in July September. This increase is in line with the median expectation of the agency's survey of economists.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that: after the short-term high shock retreated, it rose rapidly, the short-term bullish mood was shrouded, the bulls had a further upward movement trend, the MACD index was arranged on the top of the 0 axis, and the RSI index was hovering on the 50 balanced line;
Empty turning point: 3901
Pressing: 3936, 3965
Support: 3880, 3855
Trading strategy: bullish above 3901, target 3936, 3965
Alternative strategy: 3901 bearish, target 3880, 3855
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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