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SP500: high shock

2023-01-18
989
Fundamental analysis:

The S&P 500 index closed down 8.99 points, or 0.22%, at 3,990.10 points on Tuesday, January 17; according to the Federal Reserve’s survey, manufacturing activity in New York State shrank sharply in January due to a sharp drop in orders and stagnant employment growth, and it is expected that There will be little improvement over the next six months.

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



Brief technical analysis:

4-hour chart: high short-term narrow-range consolidation, after the market’s bullish momentum has risen, there is a consolidation trend at high levels, the MACD indicator is in the long zone and slowly moving down, and the RSI indicator is hovering above the 50 balance line in the long zone;

Long-short turning point: 4012

Suppression: 4023, 4031
Support: 3999, 3990

Trading strategy: bearish below 4012, target 3999, 3990
Alternative strategy: call above 4012, target 4023, 4031

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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