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SP500: Low weak position moves down
2022-09-28
1147
Fundamental analysis:
The S&P 500 index closed down 6.04 points, or 0.17%, at 3649.00 on September 27 (Tuesday); Several Fed officials played down the rising volatility of global markets on Monday (September 26) and reiterated that the top priority remains to control inflation. The economic growth will slow down a lot this year, and even slower next year, but no specific estimate was provided.
S&P SP500 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of low short positions maintains a narrow range and slowly moves down. The market is overshadowed by short positions, and the short-term decline has not stopped. MACD indicators remain weak in short positions and RSI indicators remain narrow in short positions;
Empty turning point: 3684
Pressing position: 3719, 3751
Support position: 3633, 3596
Trading strategy: 3684 lower bearish, target 3633, 3596
Alternative strategy: bullish above 3684, target 3719, 3751
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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