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SP500: High level step up

2022-10-26
1288
Fundamental analysis:

The S&P 500 index closed up 61.61 points, or 1.62%, at 3858.95 on October 25 (Tuesday); In September, the overall CPI of the United States rose 8.2% year on year, and the core CPI rose 6.6% year on year. The market still expects that the annualized core PCE of the United States will rise to 5.2% in September.


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



Technical analysis:


The 4-hour chart shows that the bulls' momentum has maintained a ladder like shock to pull up, the short-term bullish sentiment remains, the market bulls continue to emerge, the MACD index is at the high level of the bulls' region, and the RSI index is hovering at the high level of the bulls' region;


Empty turning point: 3845


Pressing: 3874, 3897


Support: 3821, 3800


Trading strategy: bullish above 3845, target 3874, 3897


Alternative strategy: 3845 lower bearish, target 3821, 3800

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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