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SP500: Low position multi head lifting
2022-10-04
1119
Fundamental analysis:
The S&P 500 index closed up 91.04 points, or 2.54%, at 3676.66 on October 3 (Monday); The US ISM manufacturing industry PMI in September was 50.9, expected to be 52.2, with a previous value of 52.8. It is the lowest since May 2020.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' momentum remains volatile and upward, and the short-term bulls' upward trend may continue. Market bullish sentiment starts to emerge. MACD indicators remain volatile and upward in short positions, while RSI indicators remain weak near the 50 equilibrium line;
Empty turning point: 3689
Pressing position: 3723, 3749
Support position: 3663, 3638
Trading strategy: bullish above 3689, target 3723, 3749
Alternative strategy: bearish under 3689, target 3663, 3638
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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