To The Moon

Market Outlook - 22 Jan 2024

Technical observations of the S&P500 1D chart:

• The Stochastic indicator is showing an uptrend with a potential top crossover soon.

• The MACD indicator is on a downtrend and there could be a reversal but the crossover is yet to be completed.

• 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). The 3 EMA lines are moving in a fanned-out pattern, thus implying an uptrend. Once, all 3 lines converged, a new downtrend would be confirmed.

From the 1D technical indicators above, there are a total of 20 (Buy), 0 (Sell) and 1 (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 have an uptrend in the coming days. Note that there are a few “overbought” indicators for the S&P 500.

@TigerStars

$S&P 500(.SPX)$