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SP500: strong climb

2023-04-30
812
Fundamental analysis:

The S&P 500 index closed up 34.85 points, or 0.84%, at 4170.20 points on April 28 (Friday); the inflation rate in the United States rose in March, and the increase in service spending was offset by the decline in commodity spending, but core inflationary pressures remained strong , the Fed is expected to raise interest rates again next week.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is strong and rising, the short-term bullish sentiment is good, the market bulls have not yet shown signs of stopping, and are about to break through the previous high node, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone to maintain consolidation;

Resistance: 4197 4204

Support level: 4177 4169

Trading strategy: Bullish above 4184, target 4197 4204
Alternative strategy: bearish below 4184, target 4177 4169

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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