Market Outlook of S&P500 - 20May24 > will S&P500 continues to rise?

Market Outlook of S&P500 - 20May24

Observations:

• The MACD indicator is on an uptrend.

• Chaikin Money Flow (CMF) has crossed the zero line in the middle which implies an uptrend.

• 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 the mid-term.

• Exponential Moving Averages (EMA). The 3 EMA lines are on an uptrend.

• I have replaced Stochastic with CMF to incorporate consideration of volume. Stochastic and MACD are similar with Stochastic being “more active” and more capable for “false” signals.

From the various technical indicators, we have a total of 21 showing a “BUY” rating and 0 with “SELL” rating.

Investing has a strong buy rating for the S&P 500 using daily intervals.

Based on the above technical indicators, we should expect an uptrend in the coming days. A few indicators are showing “overbought”.

With the above considerations, the S&P500 should be on an uptrend in the coming week.

@TigerStars

$S&P 500(.SPX)$

$SPDR S&P 500 ETF Trust(SPY)$