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SP500: low pull up

2022-12-09
1059
Fundamental analysis:
The S&P 500 index closed up 29.58 points, or 0.75%, at 3963.50 points on December 8 (Thursday); the market expects the Federal Reserve to raise interest rates by 50 basis points at the December 13-14 meeting, but this is not Should be seen as a shift towards a more moderate policy stance. Inflation is still too high, the labor market is too strong, and supply and demand are too unbalanced for the Fed to let its guard down.

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


Brief technical analysis:
Looking at the 4-hour chart: the low-level bullish momentum remains volatile and rising, short-term bullish sentiment begins to emerge, the MACD indicator is in the short-term area and continues to move up, and the RSI indicator is hovering around the 50 balance line;
Long and short turning point: 3960
Suppression: 3977, 3989
Support: 3949, 3936
Trading strategy: Bullish above 3960, target 3977, 3989
Alternative strategy: bearish below 3960, target 3949, 3936

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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