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SP500: Strong uptrend
2023-06-02
768
Fundamental analysis:
On June 1 (Thursday), the S&P 500 Index closed up 41.27 points, or 0.99%, to 4221.10 points; the number of ADP employment in the United States in May was 278,000, which was expected to be 170,000, and the previous value was 296,000. The last reading was the best since June 2022, and this time around it was just a slight dip.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term bullish sentiment is still there, the market as a whole is in the process of rising bulls, and there is a trend of continuous upward movement in the short term. The MACD indicator is on the upper side of the 0 axis and moves upwards gently, and the RSI indicator is in the bullish area to maintain consolidation;
Resistance: 4239 4247
Support level: 4218 4210
Trading strategy: Bullish above 4236, target 4239 4247
Alternative strategy: bearish below 4236, target 4218 4210
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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