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SP500: high retracement
2023-01-10
1031
Fundamental analysis:
The S&P 500 index closed down 3.45 points, or 0.09%, at 3891.63 points on January 9 (Monday); the market focus is on Fed Chairman Powell’s speech on Tuesday (January 10) and Thursday (January 12) 12 U.S. consumer price data released. U.S. inflation is widely expected to fall in 2023.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has retreated rapidly, the short-term short-term sentiment is shrouded, the market short-term momentum maintains shocks and moves down, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly above 50;
Long and short turning point: 3910
Suppression: 3923, 3934
Support: 3895, 3883
Trading strategy: bearish below 3910, target 3895, 3883
Alternative strategy: call above 3910, target 3923, 3934
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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