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SP500: Oscillation downward

2022-11-18
589
Fundamental analysis:

The S&P 500 index closed down 10.79 points, or 0.27%, at 3948.00 on November 17 (Thursday); Federal Reserve Brad: As the Federal Reserve strives to fight against inflation, inflation risk may rise now, but this will not be the basic situation. The basic situation is that the economy is growing slowly rather than recession, but the impact may change the prospects.


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



Technical analysis:

The 4-hour chart shows that the momentum of high short positions remains volatile and downward, and the short-term decline may continue. The downward trend of short positions in the market as a whole will continue. The MACD indicator moves downward and hovers near the 0 axis, and the RSI indicator is in a weak position near the 50 equilibrium line;

Empty turning point: 3967

Pressing: 3994, 4017

Support: 3935, 3910

Trading strategy: bearish under 3967, target 3935, 3910

Alternative strategy: bullish above 3967, target 3994, 4017

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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