The S&P 500 index closed up 51.51 points, or 1.38%, at 3771.40 on November 4 (Friday); The US added 261000 non farm jobs in October, better than the expected 200000. Before the release of this report, the possibility of the Federal Reserve raising interest rates by 75 basis points was 60%, and the remaining possibility was 50 basis points. After that, the probability of raising interest rate by 75 basis points rose to 64%. Non farm employment continued to rise. The rise in unemployment is obvious, but it comes from the low participation rate.
S&P SP500 - 4-hour K line chart shows:
The 4-hour chart shows that after maintaining a narrow range of shocks in the short term, the bulls' momentum rapidly rose, and the market bulls' sentiment began to emerge. The MACD index was sorted in the short position area, and the RSI index was in the short position area and slowly rose to hover around the 0 axis;
Empty turning point: 3770
Pressing: 3801, 3822
Support: 3750, 3732
Trading strategy: bullish above 3770, target 3801, 3822
Alternative strategy: bearish under 3770, target 3750, 3732