SP500: Multiple head vibration moves up

Fundamental analysis:

The S&P 500 index closed up 95.46 points, or 2.66%, at 3678.53 on October 17 (Monday); Overseas liquidity continued to tighten. U.S. employment, inflation and Federal Reserve officials said that they would further strengthen the hawkish expectation of the Federal Reserve to raise interest rates. The Federal Reserve's sharp interest rate increase of 75 basis points in November was still a highly probable event, and it is expected that the dollar index will continue to be strong in volatility.

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

Technical analysis:

The 4-hour chart shows that the bulls' momentum has maintained a volatile upward trend, the market's bullish sentiment has continued, and the short-term bulls' rally may continue. The MACD indicator is hovering on the top of the 0 axis, and the RSI indicator is in the 50 balanced online side of the weak finishing;

Multi empty turning point: 3690

Pressing: 3720, 3742

Support: 3668, 3642

Trading strategy: bullish above 3690, target 3720, 3742

Alternative strategy: bearish under 3690, target 3668, 3642