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SP500: low shock
2023-03-14
934
Fundamental analysis:
The S&P 500 index closed down 5.06 points, or 0.13%, at 3856.53 points on March 13 (Monday); the market expects the U.S. inflation report to show that the overall CPI growth rate in February will drop to 5.9% year-on-year, lower than in January 6.4% (lowest level since October 2021), thanks in large part to lower energy and food prices.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term low volatility, the market as a whole is in a weak position, the short-term may maintain a low level, the MACD indicator is hovering below the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance: 3868 3891
Support level: 3851 3840
Trading strategy: bearish below 3868, target 3851 3840
Alternative strategy: call above 3868, target 3868 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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