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SP500: Low level wide amplitude oscillation
2022-10-12
1176
Fundamental analysis:
The S&P 500 index closed down 22.89 points, or 0.63%, at 3589.50 on October 11 (Tuesday); Federal Reserve officials hinted that interest rates would remain high for a longer time, ruling out the possibility of an early policy shift in 2023. The expectation of radical interest rate increase should bring upward pressure on the real yield and keep the US dollar, which has been close to the high level for decades, appreciating further.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the short position shocks continuously move downward, and the low position short-term wide amplitude shocks move downward. The market as a whole is still weak. The MACD indicator stays in the short position area and maintains consolidation and translation, while the RSI indicator stays in the short position area and remains weak;
Empty turning point: 3615
Pressing: 3632, 3649
Support: 3590, 3576
Trading strategy: 3615 lower bearish, target 3590, 3576
Alternative strategy: bullish above 3615, target 3632, 3649
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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