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SP500: Shock and drop

2023-01-06
577
Fundamental analysis:
The S&P 500 index closed down 44.64 points on January 5 (Thursday), or 1.16%, to 3808.33 points; the number of initial jobless claims in the United States for the week ending December 31 was 204,000, expected to be 225,000, and the previous value was 22.5 million people. It is the lowest since the week of September 24, 2022.

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



Brief technical analysis:
Looking at the 4-hour chart: After a wide range of fluctuations, the decline continues, and the short-term decline may continue. The market as a whole is in a weak position. The MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order below the 50 balance line;
Long-short turning point: 3839
Suppression: 3851, 3862
Support: 3820, 3810
Trading strategy: bearish below 3839, target 3820, 3810
Alternative strategy: call above 3839, target 3851, 3862

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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