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SP500: low shock down

2022-09-01
1116
Fundamental analysis:

The S & P 500 index closed down 31.26 points, or 0.78%, at 3954.90 on Wednesday, August 31; The ADP employment data in August in the United States is not enough to arouse people's concern about economic recession, but it is not enough to arouse people's concern about wage rise. Judging from the market reaction, the US dollar has basically not changed since the data was released.


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



Technical analysis:


According to the 4-hour chart, the short-term downward trend of low-level weakness has not stopped, the short-term downward trend of short-term weakness has not stopped, the market short-term sentiment is shrouded, the MACD indicator is in the short area and the consolidation and translation are maintained, and the RSI indicator is in the short area;


Long and short turning point: 3971


Pressing position: 3993, 4017


Support position: 3933, 3908


Trading strategy: 3971 lower bearish, target 3933, 3908


Alternative strategy: bullish above 3971, targets 3993 and 4017

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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