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SP500: High uplink

2023-01-13
571
Fundamental analysis:
The S&P 500 index closed up 13.63 points, or 0.34%, at 3,983.24 points on Thursday, January 12. The monthly core CPI rate in the United States rose moderately in December, further proving that price pressures are easing and paving the way for the Fed to slow down and accelerate next month. The breath pace provides space. The core CPI monthly rate in the United States recorded 0.3% in December, and the market believes that this indicator is more reflective of the underlying inflation in the United States than the overall inflation indicator.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum fluctuates upwards at a high level, the short-term bullish sentiment is shrouded, the bulls in the market continue to climb, the MACD indicator is hovering at a high level in the bullish zone, and the RSI indicator is in a high level consolidation in the bullish zone;
Long and short turning point: 3997
Suppression: 4012, 4024
Support: 3985, 3973
Trading strategy: Bullish above 3997, target 4012, 4024
Alternative strategy: bearish below 3997, target 3985, 3973

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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