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SP500: oscillating down
2023-01-20
1050
Fundamental analysis:
The S&P 500 Index closed down 30.26 points, or 0.77%, at 3,898.60 points on Thursday, January 19; U.S. housing starts fell for the fourth consecutive month, drawing an end to a disappointing year for the real estate industry. Starts fell for the first time since 2009. Housing starts fell 1.4% to a five-month low at a rate of 1.38 million units last month
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are oscillating downward, and there is still a downward trend after the short-term narrow-range consolidation, the MACD indicator is in the short-term consolidation, and the RSI indicator is in a weak shock below the 50 balance line;
Long-short turning point: 3922
Suppression: 3934, 3947
Support: 3905, 3893
Trading strategy: bearish below 3922, target 3905, 3893
Alternative strategy: call above 3922, target 3934, 3947
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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