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SP500: bears continue to go down
2022-08-24
1198
Fundamental analysis:
The S & P 500 index closed down 10.73 points, or 0.26%, at 4127.26 on Tuesday, August 23; Traders have different opinions on whether the Fed will raise interest rates by 50 basis points or 75 basis points in September. Recently, several policy makers have counterattacked the expectation that the Fed's policy will turn dove, and emphasized the commitment of the fed to fight inflation.
S & P SP500 - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short power maintains a downward shock, the low level is about to fall below the previous low level, and there is a trend of continuous downward movement. The MACD indicator is in the low position of the short area, and the RSI indicator is in the low position of the short area;
Long and short turning point: 4134
Pressing position: 4150, 4169
Support position: 4113, 4099
Trading strategy: bearish below 4134, targets 4113 and 4099
Alternative strategy: bullish above 4134, targets 4150 and 4169
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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