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SP500: wide oscillation
2023-04-23
827
Fundamental analysis:
The S&P 500 index closed up 4.01 points, or 0.10%, at 4133.80 points on April 21 (Friday). US Markit PMI data showed that business activity has resumed its growth momentum after contracting for seven months as of January. The latest data point to annualized GDP growth of just over 2%.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics fluctuated in a narrow range after moving down, and the market bulls waited for an opportunity to enter the market. In the short term, there were signs of continued upward shocks and upward fluctuations. The MACD index was hovering below the 0 axis, and the RSI index was below the 50 balance line. Weak consolidation;
Resistance: 4164 4171
Support level: 4145 4138
Trading strategy: Bullish above 4153, target 4164 4171
Alternative strategy: bearish below 4153, target 4145 4138
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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