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SP500: high position down

2023-01-31
994
Fundamental analysis:

The S&P 500 index closed down 51.66 points, or 1.27%, at 4018.90 points on January 30 (Monday); the Fed will pause the policy tightening cycle after raising interest rates by 25 basis points each in the next two policy meetings, but Likely to keep rates on hold for at least the rest of the year. The federal funds rate is currently at 4.25%-4.50%.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum remains volatile and downward, and the short-term decline may continue. The market as a whole is moving downward. The MACD indicator is in the bullish area and is slowly declining. The RSI indicator is hovering around the 50 balance line;

Long-short turning point: 4045

Compression: 4055, 4066
Support: 4026, 4014

Trading strategy: bearish below 4045, target 4026, 4014
Alternative strategy: call above 4045, target 4055, 4066

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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