SP500: High level vibration
2022-10-27
1124
Fundamental analysis:
The S&P 500 index closed down 28.00 points, or 0.73%, at 3831.11 on October 26 (Wednesday); The market expects that the pace of interest rate increase by the Federal Reserve may slow down after the interest rate increase of 75 basis points next week.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' power kept rising in shock. After the narrow range of high position was sorted out, it continued to move upward. The MACD index was in the high position of the bulls' region, and the RSI index was in the 50 balanced line side of the weak;
Empty turning point: 3845
Pressing: 3874, 3897
Support: 3821, 3800
Trading strategy: bullish above 3845, target 3874, 3897
Alternative strategy: 3845 lower bearish, target 3821, 3800
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