Market Outlook of S&P500 - 22Jul24
Market Outlook of S&P500 - 22Jul24
Observations:
The MACD indicator has completed a top crossover that implies a current “bearish” run.
Chaikin Money Flow (CMF) is below the zero line in the middle which implies a downtrend. From the volume, the bear is having momentum.
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 the mid-term.
Exponential Moving Averages (EMA). The 3 EMA lines are on an uptrend.
I have replaced Stochastic with CMF to incorporate consideration of volume. Stochastic and MACD are similar with Stochastic being “more active” and more capable for “false” signals.
From investing dot com, the S&P500 is on a downtrend. Technically, it looks to be a “sell”.
Using 21 technical indicators, they largely point to a “Sell” rating with 9 showing a “buy” rating and 12 showing a “sell” rating.
In my opinion, the S&P500 should continue its downtrend in the coming week though some earnings could add to the volatility in the market.
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- Erness·07-22PossibleLikeReport