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SP500: Low order finishing

2022-12-21
978
Fundamental analysis:
The S&P 500 Index closed up 4.09 points, or 0.11%, at 3821.75 points on December 20 (Tuesday). Homebuilders' expectations for future sales are at a 10-year low.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics remain volatile and downward, the lows are supported in the short-term and then sorted out, the short-term bullish powers begin to wait for an opportunity to enter the market, the MACD indicator is in the short-term area for consolidation, and the RSI indicator is hovering weakly below the 50 balance line;
Long-short turning point: 3848
Suppression: 3873, 3898
Support: 3826, 3804
Trading strategy: Bullish above 3848, target 3873, 3898
Alternative strategy: bearish below 3848, target 3826, 3804

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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