The S & P 500 index closed up 44.19 points, or 1.09%, at 4111.55 on Monday, September 12; The stock and financial markets did not face major market anxiety. The short-term downward trend of major US stock indexes has stopped. Traders and investors are waiting for the latest US inflation report to be released on Tuesday. It is expected that the CPI will increase by 8.0% year-on-year in August and 8.5% in July.
S & P SP500 - 4-hour K-line chart shows:
According to the 4-hour chart, the Bulls' momentum is maintained in a choppy and upward trend. In the short term, bulls continue to move upward. Bullish sentiment prevails on the upper side. MACD index is at the high level of the Bulls' region, and RSI index is hovering near the 80 equilibrium line in the overbought area;
Long short turning point: 4110
Pressing position: 4139, 4159
Support position: 4090, 4067
Trading strategy: bullish above 4110, targets 4139 and 4159
Alternative strategy: 4110 down bearish, target 4090, 4067