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SP500: low recovery

2023-02-20
965
Fundamental analysis:

The S&P 500 index closed down 11.32 points, or 0.28%, to 4079.09 points. It has fallen by 0.28% this week, falling for the second consecutive week. BofA Global Research’s weekly fund flows report shows that technology funds saw their largest outflows since September last year, emerging market bond funds saw their largest outflows in 14 weeks, and junk bond funds saw their largest outflows in 8 weeks. .

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



Brief technical analysis:

Looking at the 4-hour chart: the bears continued to fluctuate downwards, and after being supported in the short term, they reversed and moved upwards. The bullish sentiment in the market began to take hold.

Long and short turning point: 4083

Suppression: 4101, 4115
Support: 4071, 4056

Trading strategy: Bullish above 4083, target 4101, 4115
Alternative strategy: bearish below 4083, target 4071, 4056

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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