To The Moon

$S&P 500(.SPX)$

The S&P 500 index has entered the Bullish zone this week, maintaining an upward trend. The current state has transitioned from a rebound trend to an uptrend, as mentioned last week. However, a trend is gradually emerging, indicating a correction trend with a weakening buying momentum, as mentioned in the past week. With this trend likely to continue for a while, temporary strong upward and downward fluctuations are anticipated. It is projected that a transition to a correction trend will occur around the focal point of the next 1-2 weeks.

Until early November, the likelihood of entering the Bullish zone seemed low, and from mid-November, a strong downward trend was expected to resume. However, considering the final trend that unfolded until last week in mid-November, it is confirmed that inflation is easing with the release of CPI and PPI indicators. The market sentiment is spreading with expectations of a halt in interest rate hikes and anticipation of a decrease. As a result, the weekly price trend in the US stock market has entered the Bullish zone, and the outlook for a strong downward trend entry needs to be adjusted.

With inflation easing and the market expecting a shift from rate hikes to rate cuts, it appears that the overall buying strength will be maintained satisfactorily as the trend progresses in the Bullish zone. There is a need for a revision in the outlook, and it is anticipated that after a brief correction trend around early December, a sparkling year-end rally will unfold.

https://www.pretiming.com/2023/11/s-500-s-500-index-has-entered-bullish.html