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SP500: Shock up
2023-04-19
822
Fundamental analysis:
The S&P 500 Index closed up 3.50 points, or 0.08%, at 4154.82 on Tuesday, April 18; U.S. single-family home construction increased in March, while future building permits surged, pointing to the worst downturn in the housing market May have passed. Single-family housing starts, which account for the bulk of housing construction, rose 2.7% to a seasonally adjusted 861,000 units last month.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a high level of volatility and moves upwards, and the short-term high level retraces, but the upward trend remains, the MACD indicator is in the bullish area to maintain consolidation, and the RSI indicator is hovering above the 50 balance line;
Resistance: 4187 4197
Support level: 4164 4153
Trading strategy: Bullish above 4173, target 4187 4197
Alternative strategy: bearish below 4173, target 4164 4153
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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