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SP500: low rise

2023-02-28
947
Fundamental analysis:

The S&P 500 index closed up 12.58 points, or 0.32%, at 3982.62 points on February 27 (Monday); the monthly rate of durable goods orders in the United States recorded -4.5% in January, the largest drop since April 2020. The value of core capital goods orders rose 0.8 percent last month after falling 0.3 percent in December.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bulls fluctuated upwards, short-term bullish sentiment began to emerge, the market bulls pulled up, the MACD indicator moved up in the short-selling area, and the RSI indicator hovered below the 50 balance line;

Long-short turning point: 3982

Suppression: 4005, 4021
Support: 3967, 3952

Trading strategy: Bullish above 3982, target 4005, 4021
Alternative strategy: bearish below 3982, target 3967, 3952

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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