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SP500: Shorts continue to fall

2022-09-19
1126
Fundamental analysis:

The S&P 500 index closed down 29.15 points, or 0.75%, at 3872.20 on September 16 (Friday); The Central Bank of the World has been raising interest rates at a synchronous level not seen in the past 50 years this year, and this trend may continue until next year. It is estimated that by 2023, the average global monetary policy interest rate will rise to nearly 4%, more than 2 percentage points higher than that in 2021.


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



Technical analysis:


The 4-hour chart shows that the weak position of the short power has been sorted out slowly. After the low position fell below the low position, it began to sort out. The short position sentiment in the short-term market continued. The MACD indicator maintained consolidation in the short position area, while the RSI indicator remained weak in the short position area;


Empty turning point: 3896


Pressing position: 3914, 3934


Support position: 3868, 3851


Trading strategy: 3896 lower bearish, target 3868, 3851


Alternative strategy: 3896 upside bullish, target 3914, 3934

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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