Technical Analysis of S&P500 (16Dec2024) - using over 20 indicators

KYHBKO
12-16

Market Outlook of S&P500 - 16Dec24

Observations:

  • The MACD indicator is showing a downtrend.

  • Moving Averages (MA). Both the MA50 line and the MA200 line are on an uptrend. Both MA50 and MA200 lines are below the last candle. Thus, it could be read as bullish for both the mid and the long-term.

  • The 3 Exponential Moving Averages (EMA) lines are on an uptrend but are looking to converge (implying a potential change in trend).

  • Chaikin’s Monetary flow (CMF) shows an uptrend. However, there seems to be more selling momentum than buying. This can lead to a potential trend change.

The 20 indicators are pointing to a “Strong Buy” rating for the S&P500 (for Daily interval). 16 indicators recommend a “Buy” and 4 recommend a “Sell” rating.

From the candlestick pattern, the latest seems to point to a more “bearish” outlook amidst the ranging pattern.

From the above, the S&P500 should see a downtrend in the coming days.

@TigerStars

$.SPX(.SPX)$

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

$Cboe Volatility Index(VIX)$

2024 Outlook: How Will Story Unfold?
With the end of the year approaching, major institutions begin to provide outlook for US stock market in 2024. How do institutions expect for 2024? Will the bull market continue? How about expectations for inflations and rate hike? What's your attitude: Cautious or Bold?
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Comments

  • DIMCO
    12-16
    DIMCO
    Your analysis is thorough and highlights the mixed signals brilliantly.
    • KYHBKO: 
      thank you. an honest view helps us to navigate better.
  • LouisLowell
    12-16
    LouisLowell
    Great breakdown
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