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SP500: Low level shock and fall
2022-09-26
1148
Fundamental analysis:
The S&P 500 index closed down 62.39 points, or 1.66%, at 3695.60 on September 23 (Friday); US PMI data US enterprises' output fell for the third consecutive month in September. If the pandemic blockade at the beginning of 2020 is excluded, this is the weakest quarter since the global financial crisis.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short positions continues to move downward, and the short-term decline has not stopped. The market is shrouded in short positions. The MACD index is maintained in the short positions area, and the RSI index is in the low position in the short positions area;
Empty turning point: 3718
Pressing position: 3751, 3785
Support position: 3680, 3650
Trading strategy: bearish under 3718, target 3680, 3650
Alternative strategy: bullish above 3718, target 3751, 3785
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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