SP500: range shock

Fundamental analysis:

The S&P 500 index closed down 7.27 points, or 0.18%, at 3,933.99 points on December 7 (Wednesday); as the Federal Reserve hinted that it will soon slow down the pace of raising interest rates, it may raise interest rates at next week’s policy meeting. Monthly interest rates have dropped. Even so, MBA's index of mortgage purchases fell 3%, the first drop in five weeks, underscoring still-volatile demand and contributing to a drop in the overall measure of mortgage applications.

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

Brief technical analysis:

The 4-hour chart: the low level is fluctuating within a narrow range, the market bearish sentiment remains, the short-term low level is within a narrow range, the MACD indicator is in the short position and the RSI indicator is in the short position and is hovering weakly;

Long-short turning point: 3941

Suppression: 3955, 3968

Support: 3920, 3909

Trading strategy: bearish below 3941, target 3920, 3909

Alternative strategy: Bullish above 3941, target 3955, 3968