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SP500: low down

2022-12-16
1094
Fundamental analysis:
The S&P 500 Index closed down 96.82 points, or 2.42%, at 3,898.50 points on December 15 (Thursday); U.S. November retail sales data fell short of expectations and the previous value, with the actual announcement recording -0.6%, while the previous value was 1.3%. Against the background of inflation, people pay more and buy less. Many Americans have low consumption desires.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term short-term momentum has fallen rapidly, short-term short-term sentiment has emerged, the overall downward trend of the market is good, the MACD indicator is weakly oscillating below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;
Long-short turning point: 3928
Suppression: 3947, 3963
Support: 3902, 3886
Trading strategy: bearish below 3928, target 3902, 3886
Alternative strategy: call above 3928, target 3947, 3963

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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