SP500: High level vibration

Fundamental analysis:

The S&P 500 index closed up 34.90 points, or 0.88%, at 3992.15 on November 15 (Tuesday); The easing of geopolitical tensions and people's confidence in the Federal Reserve's slowing pace of interest rate increase increased, and bulls once again poured into global stock markets. With the decline of US treasury bond yield and the US dollar, the economic data released by the US is weaker than expected. Many people believe that this will cause the Federal Reserve to raise interest rates by 50 basis points after raising interest rates by 75 basis points in a row.

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

Technical analysis:

The 4-hour chart shows that the high level fluctuates in a narrow range, and the market bears are waiting for an opportunity to enter the market. The MACD index is in the high order of the bull region, and the RSI index is in the weak hovering on the upper side of the 50 equilibrium line;

Empty turning point: 3999

Pressing: 4018, 4038

Support: 3971, 3949

Trading strategy: bearish under 3999, target 3971, 3949

Alternative strategy: bullish above 3999, target 4018, 4038