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SP500: Low vulnerable vibration

2022-09-30
1255
Fundamental analysis:

The S&P 500 index closed down 77.64 points, or 2.09%, at 3641.40 on September 29 (Thursday); Because the US economy is relatively strong, the Federal Reserve can raise interest rates more actively than other countries, and the global economic growth prospects are bleak, thus pushing the dollar index higher again.


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



Technical analysis:


The 4-hour chart shows that the short selling momentum maintains a narrow range and slowly moves downward. The short selling sentiment is shrouded, and the short-term decline has not stopped. The MACD indicator is weak and hovering below the 0 axis, and the RSI indicator is narrow and organized below the 50 equilibrium line;


Empty turning point: 3672


Pressing position: 3708, 3740


Support position: 3623, 3591


Trading strategy: 3672 lower bearish, target 3623, 3591


Alternative strategy: bullish above 3672, target 3708, 3740


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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