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SP500: Rapid downlink

2022-11-10
529
Fundamental analysis:

The S&P 500 index closed down 79.21 points, or 2.07%, at 3748.90 on November 9 (Wednesday); Federal Reserve Powell said that he would continue to raise interest rates, leading the market to adjust the expectation of peak interest rates. The radical interest rate increase in the United States has led to the rise in the yield of US treasury bonds and pushed the US dollar to multi-year highs against most major currencies, but people increasingly speculate that this trend is about to end.


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



Technical analysis:


The 4-hour chart shows that the momentum of short sellers is declining rapidly, and the short-term decline may continue. The short sellers' sentiment in the market is good. The MACD indicator is weak around the 0 axis, and the RSI indicator is weak below the 50 equilibrium line;


Empty turning point: 3765


Pressing: 3787, 3805


Support: 3738, 3719


Trading strategy: bearish under 3765, target 3738, 3719


Alternative strategy: bullish above 3765, target 3787, 3805

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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