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SP500: move up the high position

2023-01-12
573
Fundamental analysis:
The S&P 500 index closed up 49.19 points, or 1.26%, at 3968.44 points on Wednesday, January 11; HSBC expects the Fed to raise interest rates by 50 basis points in February this year, and the Fed is expected to start cutting interest rates in 2024.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of high-level bulls continues to fluctuate and rise, the short-term bullish sentiment is shrouded, the market bulls continue to climb, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone and slowly rising;
Long-short turning point: 3984
Suppression: 4000, 4012
Support: 3971, 3959
Trading strategy: Bullish above 3984, target 4000, 4012
Alternative strategy: bearish below 3984, target 3971, 3959

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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