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SP500: low shock

Fundamental analysis:

On February 23 (Thursday), the S&P 500 index closed up 21.75 points, or 0.54%, to 4012.80 points; the number of initial jobless claims in the United States in the week to February 18 was 192,000, expected to be 200,000, and the previous value was 19.4 Ten thousand, a new low since the week of January 28, 2023.

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

Brief technical analysis:

Looking at the 4-hour chart: the low-level long-term momentum rebounded in the short term, the market as a whole is in a range-bound trend, the MACD indicator is in the short zone and slowly rising, and the RSI indicator is in the short zone and moves upward;

Long and short turning point: 4010

Suppression: 4026, 4038
Support: 3999, 3988

Trading strategy: Bullish above 4010, target 4026, 4038
Alternative strategy: bearish below 4010, target 3999, 3988

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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