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SP500: High vacancy downlink

2022-10-20
1106
Fundamental analysis:

The S&P 500 index closed down 23.03 points, or 0.62%, at 3696.95 on October 19 (Wednesday); In this round of interest rate increase cycle, the continued high inflation restricts the Federal Reserve, which means that the restrictive interest rate system may last longer than at any stage in history.


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



Technical analysis:


The 4-hour chart shows that the power of high short positions keeps moving downward, and short-term short positions are waiting for the opportunity to enter the market. Gradually moving downward, MACD indicators remain in the long positions, and RSI indicators remain in the weak positions near the 50 equilibrium line;


Empty turning point: 3718


Pressing: 3739, 3759


Support: 3691, 3673


Trading strategy: bearish under 3718, target 3691, 3673


Alternative strategy: bullish above 3718, target 3739, 3759

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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