SP500: move down the low position

Fundamental analysis:

The S&P 500 index closed down 43.39 points, or 1.11%, to 3852.36 points. In the last three trading days (since the day when the Fed narrowed its interest rate hike to 50 basis points), it has fallen by 4.17%, and it has fallen by 2.08% this week. Business conditions in the U.S. are deteriorating as 2022 draws to a close, with GDP expected to grow at an annualized rate of about 1.5% in the fourth quarter. Meanwhile, job growth has slowed to the bone as firms in manufacturing and services have taken a more cautious approach to hiring amid subdued customer demand.

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

Brief technical analysis:

Looking at the 4-hour chart: the low-level short-term momentum remains volatile and downward, and the short-term decline may continue. The overall downward trend of the market is in good shape. The MACD indicator is in a weak downward trend in the short-selling area, and the RSI indicator is in a low-level arrangement in the short-selling area;

Long-short turning point: 3887

Suppression: 3907, 3925

Support: 3857, 3837

Trading strategy: bearish below 3887, target 3857, 3837

Alternative strategy: call above 3887, target 3907, 3925