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.
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.
- mster·02-12TOPMy personal indicator is showing fearful… has this train lost its break?!!1Report