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SP500: Shock down

2023-04-21
839
Fundamental analysis:

The S&P 500 index closed down 24.33 points, or 0.59%, at 4130.19 points on Thursday, April 20th; U.S. second-hand home sales fell more than expected in March, suggesting that despite some signs of stabilization, the fundamentals of the real estate market remain unstable. Contracts for home sales fell 2.4% to an annual rate of 4.44 million units in March, following a sharp increase in February.

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



Brief technical analysis:

Looking at the 4-hour chart: the market is shrouded in bearish sentiment, and it will continue to move downward in the short term. In the short term, it is moving downward in a wide range of shocks.

Resistance: 4164 4171

Support level: 4145 4138

Trading strategy: bearish below 4153, target 4145 4138
Alternative strategy: call above 4153, target 4164 4171

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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