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SP500: low shock

2022-12-27
1023
Fundamental analysis:
The S&P 500 index closed up 22.37 points, or 0.59%, at 3,844.76 on Friday, December 23; the key indicator for measuring U.S. prices rose only 0.1% in November, which is when inflation reached a 40-year high this summer fell for the fifth consecutive month. The U.S. core PCE price index rose 0.2% month-on-month in November, in line with Wall Street expectations. Markets are closed on Monday for Christmas.

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



Brief technical analysis:
Looking at the 4-hour chart: short-term lows fluctuate within a narrow range, the bullish momentum shows signs of moving up, the MACD indicator is hovering below the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Long and short turning point: 3857
Suppression: 3891, 3915
Support: 3836, 3814
Trading strategy: Bullish above 3857, target 3891, 3915
Alternative strategy: bearish below 3857, target 3836, 3814

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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