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SP500: move down the low position

2023-02-27
870
Fundamental analysis:

The S&P 500 index closed down 41.12 points, or 1.02%, at 3971.20 points on February 24 (Friday); US PCE data: The interest rate market believes that the risk of the Federal Reserve raising interest rates by 50 basis points at its meeting next month is rising. The OTS contract tied to the March 22 meeting implies a 33 basis point hike, or a 28% chance of a 50 basis point hike.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics continue to fluctuate and move downwards, and the short-term lows fluctuate, and the market’s bearish sentiment emerges. The MACD indicator is in the bearish area to maintain consolidation, and the RSI indicator is hovering below the 50 balance line;

Long-short turning point: 3982

Suppression: 3995, 4008
Support: 3961, 3948

Trading strategy: bearish below 3982, target 3961, 3948
Alternative strategy: call above 3982, target 3995, 4008

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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