CM Trade

Download APP to receive bonus

GET

SP500: low shock

2023-01-03
1005
Fundamental analysis:
The S&P 500 index closed down 10.78 points, or 0.28%, at 3838.50 points on December 30 (Friday); U.S. stocks closed slightly lower on the last trading day of 2022. The performance of the S&P 500 Index was in the middle, with a cumulative decline of 19.44%. Affected by the continuous tightening of the Federal Reserve, growth stocks represented by technology stocks continued to decline this year. The performance below is more firm.

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


Brief technical analysis:
Looking at the 4-hour chart: low short-term fluctuations within a narrow range, the market as a whole is in a weak position and has not yet stepped out of the low range, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 3873
Suppression: 3895, 3913
Support: 3834, 3812
Trading strategy: bearish below 3873, target 3834, 3812
Alternative strategy: call above 3873, target 3895, 3913

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More