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SP500: high shock
2023-05-02
859
Fundamental analysis:
The S&P 500 index closed down 3.33 points, or 0.08%, at 4166.15 points on May 1 (Monday); JPMorgan Chase announced that it has acquired most of the assets of First Republic Bank and assumed its deposits and certain other liabilities, and will $10.6 billion paid to the FDIC.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the bullish dynamics fluctuated and pulled up, the high level was briefly consolidated, and the market’s bearish sentiment began to show signs of waiting for an opportunity to enter the market. The MACD indicator was in a high level consolidation in the bullish area, and the RSI indicator was hovering weakly above the 50 balance line;
Resistance: 4193 4204
Support level: 4169 4161
Trading strategy: bearish below 4184, target 4169 4161
Alternative strategy: call above 4184, target 4193 4204
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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