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SP500: move down the low position

Fundamental analysis:

The S&P 500 Index closed down 30.15 points, or 0.74%, at 4060.60 points on May 4 (Thursday); the number of initial jobless claims in the United States for the week ending April 29 was 242,000, compared with the expected 240,000 and the previous value of 23 million people. The number of Americans filing new claims for jobless benefits rose by the most in six weeks, pointing to some softness in the U.S. labor market, which remains relatively resilient.

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

Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum maintains a good downward trend, the short-term decline may continue, the market as a whole is in a bearish trend, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone and maintains a flat shift;

Resistance: 4088 4097

Support: 4064 4057

Trading strategy: bearish below 4080, target 4064 4057
Alternative strategy: call above 4080, target 4088 4097

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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