SP500: high pull up

The S&P 500 index closed up 9.22 points, or 0.23%, at 4069.65 points on Friday, January 27; the U.S. core PCE price index recorded an annual rate of 4.4% in December, slowing to the slowest annual growth rate in more than a year. This, along with a drop in consumer spending, confirmed expectations that policymakers will further slow the pace of rate hikes. The U.S. PCE price index recorded an annual rate of 5% in December, still well above the Fed's 2% target, but both are the slowest growth rates since late 2021.

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

The 4-hour chart: the high-level bulls are strongly driven up, the market is shrouded in bullish sentiment, and the short-term high is in a retracement trend, but the bullish sentiment is shrouded, the MACD indicator is in the high level of the bullish zone, and the RSI indicator is hovering at the high level of the bullish zone;

Long and short turning point: 4078

Compression: 4095, 4108

Support: 4065, 4056

Trading strategy: Bullish above 4078, target 4095, 4108

Alternative strategy: bearish below 4078, target 4065, 4056