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SP500: Multiple head vibration moves up

2022-10-19
1042
Fundamental analysis:

The S&P 500 index closed up 45.15 points, or 1.23%, at 3723.10 on October 18 (Tuesday); Market liquidity has deteriorated significantly. 6.3% of investors' investment portfolio is cash, which is the highest level since April 2001. The survey shows that the number of respondents who expect the economy to weaken in the next 12 months is close to a record level, and 79% of respondents expect inflation to decline over the same period.


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



Technical analysis:


The 4-hour chart shows that the bulls' momentum has maintained a slow upward movement, the short-term high has maintained a wide range of shocks, the market's bullish sentiment has continued to be shrouded, the MACD indicator has maintained consolidation in the bulls' area, and the RSI indicator has remained weak above the 50 equilibrium line;


Empty turning point: 3750


Pressing: 3779, 3800


Support: 3728, 3708


Trading strategy: bullish above 3750, target 3779, 3800


Alternative strategy: bearish under 3750, target 3728, 3708


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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