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SP500: strong pull up

2023-04-28
827
Fundamental analysis:

The S&P 500 index closed up 78.51 points, or 1.94%, at 4134.50 points on April 27 (Thursday); supported by the strongest consumer spending in the past two years, the initial value of the annualized quarterly rate of real GDP in the first quarter of the United States recorded The initial quarterly rate of actual personal consumption expenditures recorded 3.7%, and the median forecast was 2% and 4%, respectively.

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



Brief technical analysis:

Looking at the 4-hour chart: the bulls are driven up strongly, the market is shrouded in bullish sentiment, the short-term bulls continue to move upward, the MACD index maintains shocks and moves up to the 0 axis, and the RSI index is in a weak order above the 50 balance line;

Resistance: 4155 4173

Support level: 4116 4138

Trading strategy: Bullish above 4153, target 4155 4173
Alternative strategy: bearish below 4153, target 4116 4138

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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