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SP500: Shorts move down
2023-05-17
859
Fundamental analysis:
The S&P 500 index closed down 25.98 points, or 0.63%, at 4110.30 points on May 16 (Tuesday); Federal Reserve Mester: I hope the policy rate can reach a level that can be either raised or lowered. With four weeks to go until the next meeting, more data will need to be seen. I don't think we've reached that level of pause in rate hikes yet.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: The short-term momentum continues to fluctuate and move downwards, the short-term decline has not stopped, the market is shrouded in bearish sentiment, and there is a trend of continued downward movement in the short term, the MACD index is hovering weakly below the 0 axis, and the RSI index is below the 50 balance line. weak finishing;
Resistance: 4141 4150
Support level: 4116 4106
Trading strategy: bearish below 4131, target 4116 4106
Alternative strategy: call above 4131, target 4141 4150
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