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SP500: short swing down
2022-08-22
1352
Fundamental analysis:
The S & P 500 index closed down 55.44 points, or 1.29%, at 4228.30 on Friday, August 19; The Federal Reserve needs to continue to raise borrowing costs to control high inflation, but it is still discussing the speed of interest rate increase and how high it should be.
S & P SP500 - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the power of high short positions continues to move downward, and the short-term decline may continue. In the continuous downward trend of short positions in the market as a whole, the MACD indicator short positions continue to move downward to the lower side of the 0 axis, and the RSI indicator is at the lower side of the 50 equilibrium line;
Long and short turning point: 4237
Pressing position: 4256, 4274
Support position: 4212, 4191
Trading strategy: bearish below 4237, targets 4212 and 4191
Alternative strategy: bullish above 4237, targets 4256 and 4274
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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