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SP500: High level vibration

Fundamental analysis:

The S&P 500 index closed down 34.09 points, or 0.85%, at 3958.84 on November 14 (Monday); Although there is a risk of recession in the US economy, other major economies in the world, especially European countries, are likely to fall into recession earlier than them. The monetary tightening policy of these central banks is also expected to turn earlier in the future. Therefore, the US dollar will remain a relatively strong currency.

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

Technical analysis:

The 4-hour chart shows that after the bulls' momentum rapidly rose, the market's bulls' momentum weakened, and the bears' momentum waited for an opportunity to enter the market. The MACD index was at the high level in the bulls' area and the RSI index began to slowly decline in the bulls' area;

Empty turning point: 3983

Pressing: 4003, 4018

Support: 3961, 3946

Trading strategy: bearish under 3983, target 3961, 3946

Alternative strategy: bullish above 3983, target 4003, 4018

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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