SP500: Short fall

Fundamental analysis:

The S&P 500 index closed 103.62 points lower, or 2.77%, at 3640.90 on October 7 (Friday); Although the data is roughly in line with expectations, the decline in the unemployment rate seems to be the focus of the market, because it has an impact on the Federal Reserve's policy. As for the still low unemployment rate, coupled with the low number of people applying for unemployment benefits for the first time, the pace of layoffs is still very slow, which will certainly make the Federal Reserve excited about continuing to raise interest rates on a large scale.

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

Technical analysis:

The 4-hour chart shows that the momentum of short sellers has dropped rapidly, and the short-term decline may continue. The market short sellers are pouring in, and the early low is just around the corner. The MACD indicator is at the bottom of the 0 axis, and the RSI indicator is at the bottom of the 50 equilibrium line;

Multi empty turning point: 3663

Pressing: 3689, 3709

Support: 3632, 3612

Trading strategy: bearish under 3663, target 3632, 3612

Alternative strategy: bullish above 3663, target 3689, 3709