Market Outlook of S&P500 - 24Jun24
Observations:
The MACD indicator is on an uptrend. A double top is forming and we should expect a reversal in the coming days.
Chaikin Money Flow (CMF) has crossed the zero line in the middle which implies an uptrend. Yet, there is a stronger buying momentum than a selling one. Let us monitor the development in the coming days. The CMF could have peaked recently.
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.
@TigerStars
$S&P 500(.SPX)$
$SPDR S&P 500 ETF Trust(SPY)$
Rate Cut Delay: Will S&P Drop Below 5000?
Federal Reserve Chair Jerome Powell said firm inflation during the first quarter had introduced new uncertainty over when and whether the central bank would be able to lower interest rates later this year.
------------------
Will S&P 500 drop below 5000?
Is a short term correction or the end of bull market?
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.
Comments