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SP500: High level sorting

2022-11-01
1143
Fundamental analysis:

The S&P 500 index closed down 29.03 points, or 0.74%, at 3872.03 on October 31 (Monday); Market participants will look for clues to strengthen recent speculation that the Federal Reserve will cut the rate increase rate after November. Most of the 19 policymakers of the Federal Reserve are expected to slow down the pace of interest rate increase in December and reach a policy interest rate peak of 4.50% - 4.75% in 2023.


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



Technical analysis:


The 4-hour chart shows that bulls continue to rise in a wide range of shocks, short-term high and narrow range of weaknesses are sorted out, short sellers are worried about signs of waiting for an opportunity to enter the market, but the overall trend is still in the upward trend, MACD indicators remain in the long area to maintain consolidation, and RSI indicators are in the 50 balanced online side to hover;


Empty turning point: 3894


Pressing: 3923, 3954


Support: 3855, 3827


Trading strategy: 3894 downside bearish, target 3855, 3827


Alternative strategy: 3894 upside bullish, 3923 and 3954 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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