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SP500: V-shaped reverse
2023-01-26
1006
Fundamental analysis:
The S&P 500 index closed down 0.05 points, or 0.00%, at 4016.90 points on Wednesday, January 25; investors are now waiting for the latest earnings reports from companies such as Tesla and IBM. A gloomy corporate outlook, a looming U.S. recession and fears of an escalating conflict between Russia and Ukraine all contributed to the pullback in U.S. stocks.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is rising rapidly in a V-shaped reversal trend, the market is shrouded in bullish sentiment, and the bullish momentum shows signs of continuing to pick up. The MACD indicator is in the bullish zone to maintain consolidation, and the RSI indicator is hovering weakly on the side of the 50 balance line;
Long and short turning point: 4028
Suppression: 4043, 4052
Support: 4019, 4011
Trading strategy: Bullish above 4028, target 4043, 4052
Alternative strategy: bearish below 4028, target 4019, 4011
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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