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SP500: move up the low position

2023-03-03
905
Fundamental analysis:

The S&P 500 index closed up 30.16 points, or 0.76%, at 3,981.55 points on March 2 (Thursday). The number of initial jobless claims in the United States for the week ending February 24 was 190,000, lower than expected. In fact, since early January this year, the number of people applying for unemployment benefits for the first time has been below 200,000.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bulls are moving upwards, the short-term bullish sentiment remains, the market bulls are beginning to reverse and move upwards, the MACD indicator is in the short area and moves upwards, and the RSI indicator is hovering around the 50 balance line;

Long-short turning point: 3979

Suppression: 4001, 4015
Support: 3964, 3950

Trading strategy: Bullish above 3979, target 4001, 4015
Alternative strategy: bearish below 3979, target 3964, 3950

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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