The S&P 500 index closed down 72.31 points, or 1.81%, at 3,919.70 points on March 9 (Thursday); the number of Americans filing for unemployment benefits last week was higher than expected, recording 211,100 people, after seven consecutive weeks of data Fewer than 200,000 people were recorded. A higher-than-expected jobless count eased concerns that a hot labor market would push the Fed toward a hawkish turn.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term short-term momentum has fallen sharply, the short-term decline continues to move downward, the market as a whole is in a bearish mood, the MACD indicator is in the bearish zone and slowly moving down, and the RSI indicator is in the bearish zone and is weakly declining;
Resistance: 3932 3942
Support level: 3907 3897
Trading strategy: bearish below 3922, target 3907 3897
Alternative strategy: call above 3922, target 3932 3942