CM Trade

Download APP to receive bonus

GET

SP500: high position down

2022-12-15
1042
Fundamental analysis:
The S&P 500 index closed down 24.65 points, or 0.61%, at 3995.00 points on December 14 (Wednesday); the Federal Reserve raised its inflation expectations and median interest rate expectations. At the same time, the Fed continued to emphasize inflation risks. The 2023 dot plot rate forecasts are clustered above 5%, with only two points below that level, suggesting FOMC members are on the same page.

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



Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics are oscillating downward, and the market will continue to move downward in the short term. The MACD indicator is at a high level in the long-term zone, and the RSI indicator is hovering around the 50 equilibrium line;
Long-short turning point: 4046
Suppression: 4066, 4086
Support: 4016, 3998
Trading strategy: bearish below 4046, target 4016, 3998
Alternative strategy: call above 4046, target 4066, 4086

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More