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SP500: low rise

2023-03-02
913
Fundamental analysis:

The S&P 500 index closed down 18.10 points, or 0.46%, to 3952.05 points on March 1 (Wednesday). According to data from the U.S. Bureau of Labor Statistics, the national unemployment rate in the United States will reach 3.6% in 2022. In 2022, 49 U.S. states and Washington, D.C. saw their average annual unemployment rate decrease, and one state's annual average unemployment rate remained roughly the same.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move downwards, the short-term decline has not stopped, the market’s short-term sentiment continues to emerge, the MACD indicator is in the short-selling area and remains in order, and the RSI indicator is hovering below the 50 balance line;

Long-short turning point: 3981

Suppression: 3976, 3991
Support: 3942, 3929

Trading strategy: bearish below 3981, target 3942, 3929
Alternative strategy: call above 3981, target 3976, 3991

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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