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SP500: low multi head concussion pull up

2022-09-09
1048
Fundamental analysis:

On Thursday, September 8, the S & P 500 index closed up 26.48 points, or 0.67%, at 4006.35. Chairman of the Federal Reserve Powell: I hope there will be a period when the economic growth rate is lower than the trend. Economic growth below the trend level will provide a better balance for the labor market.


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



Technical analysis:


According to the 4-hour chart, the momentum of low-level bulls kept surging, the short-term bullish sentiment was shrouded, the market bulls showed signs of continuing to move upward, the MACD index was in the weak consolidation on the upper side of the 0 axis, and the RSI index was in the 50 equilibrium online side;


Long and short turning point: 3999


Pressing position: 4027, 4054


Support position: 3971, 3944


Trading strategy: bullish above 3999, targeting 4027 and 4054


Alternative strategy: 3999 bearish, targets 3971 and 3944

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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