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SP500: strong pull up
2023-05-18
867
Fundamental analysis:
The S&P 500 index closed up 48.61 points, or 1.18%, at 4158.51 points on May 17 (Wednesday); Speaker of the U.S. House of Representatives McCarthy: Defending the Republican Party’s call to increase spending limits as debt ceiling negotiations continue, work requirements will help Helping people get jobs, helping the economy, that's what we're supposed to do, and the debt ceiling talks don't talk about taxes.
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 shrouded, the bullish momentum in the market continues, the MACD indicator hovers around the 0 axis and then moves up, and the RSI indicator is weak on the side of the 50 balance line;
Resistance: 4179 4188
Support level: 4156 4146
Trading strategy: Bullish above 4165, target 4179 4188
Alternative strategy: bearish below 4165, target 4156 4146
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