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SP500: high position down

2022-11-30
1105
Fundamental analysis:
The S&P 500 index closed down 6.84 points, or 0.17%, at 3957.10 points on November 29 (Tuesday); Federal Reserve Chairman Powell may further hint at a slowdown in the pace of interest rate hikes in his upcoming speech, and signs of cooling inflation are likely It will strengthen people's expectations for the Fed to adopt a less aggressive interest rate policy.

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


Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum maintains a narrow range of shocks downward, the market as a whole is in a weak position, and it will continue to move downward in the short term. The MACD index is hovering weakly below the 0 axis, and the RSI index is below the 50 balance line.
Long and short turning point: 3970
Suppression: 3989, 4009
Support: 3944, 3927
Trading strategy: bearish below 3970, target 3944, 3927
Alternative strategy: call above 3970, target 3989, 4009

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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