CM Trade

Download APP to receive bonus

GET

SP500: wide oscillation

2023-05-14
825
Fundamental analysis:

The S&P 500 index closed down 6.04 points, or 0.15%, at 4124.58 points on Friday, May 12; U.S. consumer confidence slipped to a six-month low in May as they worried about politics over raising the federal government’s borrowing cap The wrestling could trigger a recession. Consumers' long-term inflation expectations jumped this month to their highest level since 2011, bad news for the Fed, which last week signaled it may pause its fastest monetary policy tightening cycle since the 1980s.

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



Brief technical analysis:

The 4-hour chart shows that short-term fluctuations are maintained in a wide range, the short-term momentum has fallen again, and the market's short-term sentiment is gradually emerging again. The MACD indicator is hovering above the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance: 4151 4160

Support level: 4126 4117

Trading strategy: bearish below 4142, target 4126 4117
Alternative strategy: call above 4142, target 4151 4160

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More