Heavy data to follow, S&P 500 calm

A brief analysis of the fundamentals:

On Monday (May 30), U.S. stocks were closed for the Memorial Day holiday. Market trading was quite light. Since last Friday, the single market has lowered its expectations for the Fed to continue aggressively raising interest rates after July, and risk sentiment has improved significantly. At present, the market is waiting for the U.S. non-farm payrolls data for May released on Friday. This heavy data may reveal the degree of Fed tightening policy after the third quarter of this year. The heavy announcement of heavy data will bring huge volatility to U.S. stocks.

S&P 500 SP500 4-hour chart

A brief technical analysis:

From the 4-hour chart, the S&P 500 continues to fluctuate at a high level, and the short-term trend is strong. 4060 has become a short-term support, the MACD red column has increased, and the RSI indicator has flattened.

Long and short turning point: 4060.00

Resistance: 4200.00 4300.00

Support level: 3900.00 3800.00

Trading strategy: bullish above 4060.00, target 4200.00 4300.00

Alternative strategy: bearish below 4060.00, target 3900.00 3800.00