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SP500: strong climb

2023-05-07
898
Fundamental analysis:

The S&P 500 index closed up 73.43 points, or 1.81%, at 4134.65 points on May 5 (Friday); the US Bureau of Labor Statistics: The unemployment rate in the United States was 3.4% in April, and the number of unemployed people was 5.7 million, unchanged from the previous month big. Employment continued to trend upwards in professional and business services, health care, leisure and hospitality, and social assistance.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising strongly, the market is shrouded in bullish sentiment, and there is a trend of continued upward trend in the short term, and there is no sign of stopping in the short term. The MACD indicator is in the bearish area and moves up, and the RSI indicator is hovering above the 50 balance line;

Resistance: 4160 4169

Support level: 4139 4131

Trading strategy: Bullish above 4147, target 4160 4169
Alternative strategy: bearish below 4147, target 4139 4131

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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