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SP500: high shock

2023-05-23
884
Fundamental analysis:

The S&P 500 index closed up 1.18 points, or 0.03%, at 4193.16 points on May 22 (Monday); Fed Daly: Not prepared to comment on the Fed's policy actions at will. Declined to say what the Fed should do at its June meeting. Will be watching closely for all incoming data.

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



Brief technical analysis:

Looking at the 4-hour chart: high short-term fluctuations within a narrow range, although the short-term momentum of the market has shown signs of moving down, but the overall trend is still in a high-level consolidation trend, the MACD indicator is in the long-term area to maintain consolidation, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance: 4220 4231

Support level: 4193 4182

Trading strategy: bearish below 4207, target 4193 4182
Alternative strategies: call above 4207, target 4220 4231

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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