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SP500: Uplink is blocked

Fundamental analysis:

The S&P 500 index closed up 36.03 points, or 0.88%, at 4151.27 points on May 25 (Thursday). The real GDP annualized quarterly rate revision in the first quarter of the United States was 1.3%, expected 1.10%, and the previous value was 1.10%. In the United States, the number of initial jobless claims for the week ending May 20 was 229,000, compared with an expected 245,000 and the previous value of 242,000.

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

Brief technical analysis:

Looking at the 4-hour chart: The low-level bullish momentum continues to fluctuate and move upwards in a wide range. After short-term resistance, it will be sorted out. The market's short-seller momentum has signs of waiting for an opportunity to enter the market. The MACD indicator is in the bearish area and maintains a smooth consolidation. The RSI indicator is hovering weakly near the 50 balance line;

Resistance: 4171 4182

Support: 4147 4138

Trading strategy: bearish below 4162, target 4147 4138
Alternative strategy: call above 4162, target 4171 4182

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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