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SP500: high short shock pullback
2022-08-18
1281
Fundamental analysis:
The S & P 500 index closed down 30.90 points, or 0.72%, at 4274.30 on Wednesday, August 17; In July, Federal Reserve officials thought that the rate of interest rate increase would eventually need to slow down at some time. They want to assess the effect of policy tightening on curbing inflation.
S & P SP500 - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the high short power is waiting for the opportunity to enter the market and shake back. The short-term decline may continue. The market short mood begins to slowly cover. The MACD indicator is in the consolidation and retreat of the long area, and the RSI indicator is in the weak position of the 50 balanced online side;
Long and short turning point: 4288
Pressing position: 4307, 4325
Support position: 4263, 4249
Trading strategy: bearish below 4288, targets 4263 and 4249
Alternative strategy: bullish above 4288, targets 4307 and 4325
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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