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SP500: hovering high
2022-11-28
1108
Fundamental analysis:
The S&P 500 closed down 1.14 points, or 0.03%, at 4,026.12 points, up 1.53% this week (the market is closed for Thanksgiving on Thursday). To keep economic growth below potential on the back of stronger real income growth, the Fed is now set to raise rates by another 125 basis points to a peak of 5-5.25%. The Fed is not expected to cut rates in 2023.
S&P SP500 - 4-hour candlestick chart shows:
A brief technical analysis:
Looking at the 4-hour chart: the bullish power level is slowly moving upwards and then finishing, the market as a whole is in the middle of moving upwards, or in a short-term or hovering state, the MACD indicator is finishing at a high level in the bullish area, and the RSI indicator is finishing at the 50 balance line;
Long-short turning point: 4023
Suppression: 4056, 4074
Support: 4001, 3981
Trading strategy: bullish above 4023, target 4056, 4074
Alternative strategy: bearish below 4023, target 4001, 3981
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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