2023.9.9 The downward trend ends, and the market fluctuates upward.
U.S. stocks all recorded losses this week, with the Dow Jones Industrial Average falling 0.75%, the S&P 500 Index falling 1.29%, and the Nasdaq Composite Index falling 1.93%. Thanks to the positive economic data in the US and weak PMI data released this week in the Eurozone and other places, the US dollar index has risen for eight consecutive weeks, setting a record for the longest consecutive rise in nine years.
Historically, the impact of U.S. government shutdowns on the stock market has been minimal, but given that Fitch has just downgraded the U.S. credit rating, investors may be more sensitive this time
The potential for longer, higher interest rate monetary policy in 2024, the restart of student loan payments, a government shutdown, and lower cost of living adjustments could combine to have a less-than-friendly impact on financial markets.
Digression: When the RMB depreciates externally or appreciates internally, who gets the benefits?
technical aspect
Daily line: This uptrend is in progress. It is expected to reach the 27,000 level within a week and remain unchanged. In October and November, it will fall below 25,300-31,500. This box will fall below 2w.
Four-hour line: I thought I would end up stepping back on the 26,000 line, but I didn’t expect it would step back so much. I will try to explore the support position of 25,500 at most. I don’t rule out the possibility of reaching the 25,300 line, and it will rebound quickly if it touches it.
15 minutes: The weekend will be dominated by shocks, and it is expected to have a box shock between 25700-26000.
Operation plan: Enter a long position at the current price of 25,800. If it falls to 25,300, cover the position and close the target at 27,000.