SP500: high shock

On January 13 (Friday), the S&P 500 Index closed up 15.03 points, or 0.38%, to 3998.20 points; U.S. Treasury Secretary Janet Yellen warned on the 13th that the U.S. government will reach the debt ceiling on the 19th local time. Failure by Congress to act quickly risks irreversible damage to the U.S. economy and livelihoods. In her letter to the U.S. Congress, Yellen warned that failure to meet government obligations will cause irreparable damage to the U.S. economy, the livelihoods of all Americans, and even global financial stability.

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

Looking at the 4-hour chart: the long-term momentum maintains a high level and moves up after finishing, the short-term bullish momentum begins to weaken, but the upward trend remains, the MACD indicator is in the long-term zone, and the RSI indicator is hovering in the long-term zone;

Long-short turning point: 4007

Suppression: 4023, 4031

Support: 3999, 3990

Trading strategy: Bullish above 4007, target 4023, 4031

Alternative strategy: bearish below 4007, target 3999, 3990