Market outlook of S&P500 (12Feb2024) - can the rally stretch beyond 5000?

Market Outlook - 12 Feb 2024

Technical observations of the S&P500 1D chart:

  • The Stochastic indicator is on an uptrend.

  • The MACD indicator is showing 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 mid-term.

  • Exponential Moving Averages (EMA). The 3 EMA lines are moving in a fanned-out pattern, thus implying an uptrend.

From the 1D technical indicators above, there are a total of 20 (Buy), 0 (Sell) and 0 (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. Let us keep an eye out for various macro data like CPI and various Black Swan events.


$S&P 500(.SPX)$

$Cboe Volatility Index(VIX)$

# Will Market Hit 5000 in February?

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  • mster
    My personal indicator is showing fearful… has this train lost its break?!!
    Fold Replies
    • KYHBKO
      being cautious is a good place to be.