Instrument: US500
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 3902.2 with take profit at 3920.4
Bearish Preference:
Sell position is envisaged if price trades below 3846.4 with take profit at 3822.3
Fundamentals:
1:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claims
Comment:
US500 is down 17.7% so far in 2022, hit by factors ranging from the severity of China’s pandemic lockdowns, the conflict in Ukraine and the U.S. Federal Reserve’s hawkish stance. High-growth stocks led the sell-off as investors scramble to adjust to tightening financial conditions.
Analysis: SCRUM Team