SP500: Move low level sorting down

Fundamental analysis:

The S&P 500 index closed down 51.77 points, or 1.42%, at 3588.70 on September 30 (Friday); Federal Reserve Daly: Our first task is to reduce inflation. As the housing market cools down, we begin to see the benefits of interest rate increases. We need to see more easing of inflation. The actions we have taken and the interest rate increases planned will reduce inflation. Further interest rate increases are the right approach, but how much we will raise interest rates depends on the data.

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

Technical analysis:

The 4-hour chart shows that the short selling power maintains a narrow range of consolidation and slowly declines, the market short selling sentiment remains unchanged, and there is no sign of final stop in the short term. The MACD indicator is at the lower side of the 0 axis, and the RSI indicator is at the lower side of the 50 equilibrium line, the weak position is at the lower side, and the consolidation moves downward;

Empty turning point: 3610

Pressing position: 3642, 3673

Support position: 3570, 3538

Trading strategy: 3610 downside bearish, target 3570, 3538

Alternative strategy: bullish above 3610, target 3642, 3673