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SP500: bulls continue to shake and pull up
2022-08-16
1284
Fundamental analysis:
The S & P 500 index closed up 14.85 points, or 0.35%, at 4295.00 on Monday, August 15; Robert Dietz, chief economist of the National Association of Home Builders (NAHB): the tightening monetary policy of the Federal Reserve and the rising construction costs led to the recession of the real estate market. In 2022, the total construction volume of single family houses is bound to decline, which will be the first decline since 2011.
S & P SP500 - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the bullish power maintains a good momentum of concussion and uptrend, and the short-term upward trend may continue. The MACD indicator maintains the consolidation and upward movement in the bullish region, and the RSI indicator maintains the consolidation and translation in the high position in the bullish region;
Long and short turning point: 4285
Pressing position: 4317, 4343
Support position: 4261, 4242
Trading strategy: bullish above 4285, targets 4317 and 4343
Alternative strategy: bearish below 4285, targets 4261 and 4242
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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