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SP500: The huge earthquake rises

2023-05-11
517
Fundamental analysis:

The S&P 500 index closed up 18.78 points, or 0.46%, at 4137.95 points on May 10 (Wednesday). As inflation continued to ease, the U.S. CPI rose 4.9% year-on-year in April, but households and businesses still felt high prices sting, and the lingering effects of the banking crisis.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum rose after a wide range of violent shocks, short-term bullish sentiment emerged, the market bulls continued to pull up, the MACD index was hovering weakly above the 0 axis, and the RSI index was weakly finishing on the side of the 50 balance line;

Resistance: 4160 4167

Support level: 4139 4130

Trading strategy: Bullish above 4147, target 4160 4167
Alternative strategy: bearish below 4147, target 4139 4130

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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