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SP500: Multiple Head Up

Fundamental analysis:

The S&P 500 index closed up 37.60 points, or 1.00%, at 3808.15 on November 7 (Monday); The latest public opinion survey by the polling agency "Morning Consult" shows that the economic problems of the United States are affecting the mid-term elections. 56% of the respondents believe that the United States economy has failed. The consumer confidence index in recent weeks is lower than the level during the blockade of the COVID-19 epidemic in 2020.

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

Technical analysis:

The 4-hour chart shows that the power of low position bulls keeps moving up, the short-term bullish mood remains, the market bulls are in good shape, the MACD index is in the short position area, the low position moves up, and the RSI index is in the 50 balanced online side;

Multi empty turning point: 3805

Pressing: 3830, 3847

Support: 3787, 3768

Trading strategy: bullish above 3805, target 3830, 3847

Alternative strategy: bearish under 3805, target 3787, 3768

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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