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SP500: Bulls up

2023-02-14
1123
Fundamental analysis:

The S&P 500 index closed up 47.59 points, or 1.16%, at 4138.05 points on February 13 (Monday); Federal Reserve officials and some economists believe that U.S. wages will increase by about 5% in 2022, although the growth rate is low CPI, but still too fast for core inflation to fall back to 2% sustainably.

S&P SP500 - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish dynamics are slowly rising at a high level, the market is bullish, and there is a short-term upward trend. The MACD index is in the short-term area and moves up to the 0 axis. The RSI index is on the 50 balance line.

Long and short turning point: 4141

Suppression: 4162, 4174
Support: 4127, 4113

Trading strategy: Bullish above 4141, target 4162, 4174
Alternative strategy: bearish below 4141, target 4127, 4113

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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