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:
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