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:
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