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SP500: Low level weak vibration downward

Fundamental analysis:

The S&P maintained that the 500 index closed down 41.59 points, or 1.07%, at 3858.30 on September 20 (Tuesday); The data on new housing starts in the United States unexpectedly rose in August, but the decline in construction permit data highlights that rising mortgage interest rates are putting pressure on demand. The total number of construction permits in the United States dropped to 1.52 million in August, the lowest level since June 2020.

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

Technical analysis:

The 4-hour chart shows that the low position has maintained a wide range of shocks in the short term, the short interest momentum has fallen again, the market short interest is shrouded, and there are signs of continued downward movement, the MACD indicator is in the short interest area to maintain consolidation, and the RSI indicator is hovering below the 50 equilibrium line;

Empty turning point: 3881

Pressing position: 3901, 3921

Support position: 3860, 3843

Trading strategy: 3881 downside bearish, target 3860, 3843

Alternative strategy: 3881 upside bullish, target 3901, 3921

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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