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Standard & Poor's: slumped back
2023-08-25
367
Fundamental analysis:
On Thursday (August 24), the U.S. unemployment data fell instead of rising last week. Some Fed officials said that further interest rate hikes may be needed. U.S. bond yields rose. The three major U.S. stock indexes collectively closed down. The S&P 500 index fell 1.35%. In terms of industry sectors, all 11 major S&P sectors closed down, and most of the large technology stocks closed down.
SP500 four-hour chart
Brief technical analysis:
Looking at the 4-hour chart, the S&P fell back to around 4400 after being blocked at the 4480 line, and the MACD volume was able to go below the zero axis again.
Resistance level: 4420 4440
Support level: 4350 4305
Trading strategy: Bullish above 4420, target 4440 4480
Alternative strategy: bearish below 4420, target 4350 4305
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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