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SP500: Narrow range weak sorting

Fundamental analysis:

The S&P 500 index closed up 13.52 points, or 0.34%, at 3946.21 on September 14 (Wednesday); As the Federal Reserve still has a lot of work to do to curb price pressure and ensure the stability of medium-term inflation expectations, it can be considered that FOMC is not ready to give up its hawkish position at present. As this will affect risky assets, the risk of a stronger US dollar will last until the beginning of next year.

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

Technical analysis:

The 4-hour chart shows that the power of high short positions fell sharply, the market began to narrow down in the short term, the MACD index was at the lower side of the 0 axis, and the RSI index was at the lower side of the 50 equilibrium line;

Empty turning point: 3982

Pressing position: 4003, 4024

Support position: 3948, 3931

Trading strategy: 3982 bearish, 3948 and 3931 targets

Alternative strategy: bullish above 3982, target 4003, 4024

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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