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SP500: high rise

2023-05-19
827
Fundamental analysis:

The S&P 500 index closed up 39.23 points, or 0.94%, at 4198.00 on May 18 (Thursday). According to the survey, the annual rate of U.S. inflation will not fall to the Fed’s 2% target until at least 2025. The unemployment rate is expected to rise from the current level of 3.4% to 4.2% by the end of 2023 and average 4.5% in 2024, still historically low compared with past recessions.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum has risen strongly, the short-term bullish sentiment is shrouded, the bulls in the market are constantly rising, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is hovering at the high level in the bullish zone;

Resistance: 4224 4233

Support level: 4201 4192

Trading strategy: Bullish above 4210, target 4224 4233
Alternative strategy: bearish below 4210, target 4201 4192

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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