Market Outlook of S&P500 for week of 01 Jan 2024 - using over 20 indicators
Market Outlook - 01 Jan 2024
Technical observations of the S&P500 1D chart:
The Stochastic indicator has completed a top crossover and could range sideways. A downtrend is expected though it is also possible to range sideways.
The MACD indicator has completed a top crossover completed. We should expect a downtrend soon.
Moving Averages (MA). Both the MA50 line and the MA200 line are on an uptrend. The last candle is above both the MA 50 line and the MA 200 line. Thus, it could be read as bullish for the long-term and mid-term.
Exponential Moving Averages (EMA). All 3 EMA lines are moving upwards and thus, implying an uptrend.
From the 1D technical indicators above, there are a total of 18 (Buy), 1 (Sell) and 0 (Neutral). Investing recommends the “STRONG BUY” recommendation based on the technical indicators above (1D chart for S&P500).
From the data above, the market should see a decline in the coming week though ranging sideways is possible.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
