SP500: low weak point consolidation

Fundamental analysis:

Monday is the labor day of the New York Stock Exchange, which is closed. The S & P 500 index closed down 40.85 points, or 1.03%, at 3926.00 on Friday, September 2; The non-agricultural report of the United States in August that the market paid attention to basically met expectations. It is expected that US employment will slow down as interest rate hikes depress economic activities. As families seek to get rid of the loss of real spending power, the US employment participation rate may begin to rise.

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

Technical analysis:

According to the 4-hour chart, the bearish downward trend is good, the low-end narrow range is weak, the MACD index is in the consolidation and translation of the short area, and the RSI index is in the weak hover below the 50 equilibrium line;

Long short turning point: 3936

Pressing position: 3964, 3993

Support position: 3904, 3876

Trading strategy: 3936 down bearish, target 3904, 3876

Alternative strategy: bullish above 3936, target 3964, 3993