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SP500: Multiple Head Up

2022-11-09
546
Fundamental analysis:

The S&P maintained that the 500 index closed up 21.94 points, or 0.58%, at 3828.74 on November 8 (Tuesday); The Goldman Sachs stock team lowered the profit growth forecast of the S&P 500 index by the end of 2024, because there are too many unfavorable factors that may continue to drag down corporate profit margins.


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



Technical analysis:


The 4-hour chart shows that the bulls' momentum continues to fluctuate and rise, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD index hovers above the 0 axis, and the RSI index is in the weak consolidation near the 50 equilibrium line;


Empty turning point: 3823


Pressing: 3847, 3868


Support: 3804, 3787


Trading strategy: 3823 upside bullish, target 3847, 3868


Alternative strategy: 3823 bearish, target 3804, 3787

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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