SP500: wide oscillation

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:

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