SP500: High level rollback

Fundamental analysis:

The S&P 500 index closed down 16.77 points, or 0.43%, at 3855.21 on November 1 (Tuesday); The market expects that the Federal Reserve will ease its current policy stance from December, and the US dollar and US treasury bond yields will fall back. Although the Federal Reserve is far from ending the interest rate hike, the policy makers may have to discuss when to slow down the pace of interest rate hike this week, given the lagging impact of monetary policy adjustment on the economy.

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

Technical analysis:

The 4-hour chart shows that the bull power keeps moving up in a ladder like manner, retreats in the short term when encountering obstacles, and the short power waits for an opportunity to enter the field and go down. The MACD index is maintained in the bull area, and the RSI index is in a weak position near the 50 equilibrium line;

Empty turning point: 3869

Pressing: 3900, 3926

Support: 3831, 3802

Trading strategy: 3869 bearish, target 3831, 3802

Alternative strategy: bullish above 3869, target 3900, 3926