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SP500: low shock

2023-03-12
863
Fundamental analysis:

The S&P 500 index closed down 72.31 points, or 1.81%, at 3919.70 points on March 10 (Friday); the U.S. job market is still tight and may be hot, which may lead the Fed to raise interest rates to a higher level and maintain longer to curb inflation.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum fluctuates at a low level, the short-term decline has not stopped, the market as a whole is in a continuous downward trend, the MACD indicator is oscillating in the bearish area, and the RSI indicator is hovering below the 50 balance line;

Resistance: 3881 3891

Support level: 3851 3840

Trading strategy: bearish below 3868, target 3851 3840
Alternative strategy: call above 3868, target 3881 3891

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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