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SP500: low weak shock
2022-08-25
1180
Fundamental analysis:
The S & P 500 index closed up 12.77 points, or 0.31%, at 4141.50 on Wednesday, August 24; The increase in orders for core means of production of factories in the United States in July exceeded expectations, indicating that despite the rise in interest rates and the market's concern about economic weakness, the demand for equipment continued. Orders for defense aircraft and parts fell by nearly 50%, which dragged down the overall indicator of durable goods.
S & P SP500 - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short-term momentum maintained a downward trend. After the short-term low-level short-term narrow range shock, the long-term momentum began to rise slowly. The MACD index was in the weak position in the short area, and the RSI index was in the weak position below the 50 equilibrium line;
Long and short turning point: 4142
Pressing position: 4164, 4180
Support position: 4126, 4113
Trading strategy: bullish above 4142, targets 4164 and 4180
Alternative strategy: bearish below 4142, targets 4126 and 4113
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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