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SP500: Short fall

2022-10-17
1058
Fundamental analysis:

The S&P 500 index closed down 81.61 points, or 2.22%, at 3588.30 on October 14 (Friday); Due to the easing of supply restrictions, the index of durable goods purchase has risen by 23%, but the consumer confidence index has basically remained unchanged compared with September. present


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



Technical analysis:


The 4-hour chart shows that the short sellers are falling rapidly, and the short-term decline may continue. The market as a whole is still in a low and weak shock. The MACD index is hovering around the 0 axis, and the RSI index is in a narrow range under the 50 equilibrium line;


Empty turning point: 3607


Pressing: 3631, 3653


Support: 3577, 3556


Trading strategy: 3607 lower bearish, 3577 and 3556 targets


Alternative strategy: bullish above 3607, target 3631, 3653

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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