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SP500: Low level shock and fall
2022-09-22
1201
Fundamental analysis:
The S&P 500 index closed down 66.54 points, or 1.73%, at 3789.39 on September 21 (Wednesday); According to the quarterly economic forecast of the Federal Reserve, the economic growth will slow down significantly in 2022, with an annual growth rate of 0.2%, and rise to 1.2% in 2023, far below the trend growth rate of the economy.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the market bearish mood is shrouded. Short term short positions fall sharply after narrow shocks, and the decline has not stopped. The MACD indicator remains in the short positions area, and the RSI indicator stays at the low position in the short positions area below the 50 equilibrium line;
Multi empty turning point: 3804
Pressing position: 3825, 3850
Support position: 3768, 3748
Trading strategy: 3804 lower bearish, target 3768, 3748
Alternative strategy: bullish above 3804, target 3825, 3850
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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