Market Outlook of S&P500 - 29Jul24 > technical analysis with over 20 indicators

KYHBKO
07-27

Market Outlook of S&P500 - 29Jul24

Yahoo Finance chart function is not working

Observations:

  • The MACD indicator has completed a top crossover that implies a current downtrend.

  • 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.

  • 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 7 showing a “buy” rating and 14 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.

@TigerStars

$S&P 500(.SPX)$

$Cboe Volatility Index(VIX)$

$SPDR S&P 500 ETF Trust(SPY)$

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  • Olegarki
    ·07-28

    Great article, would you like to share it?

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    • KYHBKO: 
      thanks for sharing this
      07-29
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