Market Outlook of S&P500 - 26Aug24 > what do 20+ indicators say about the coming week?
Market Outlook of S&P500 - 26Aug24
Observations:
The MACD indicator shows 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 above the MA 200 line. Thus, it could be read as bullish for the long & mid-term.
The 3 Exponential Moving Averages (EMA) lines have completed their crossover and are on an uptrend.
Chaikin’s Monetary flow (CMF) shows an uptrend. This implies more buying than selling.
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.
Investing dot com has a strong buy rating for the S&P500 based on daily intervals.
Based on 20 indicators, there are 20 showing a “BUY” rating and 0 with a “SELL” rating, leading to a “Strong Buy” rating.
Most indicators point to a “BUY” rating. Do note that there are 3 that point to an “overbought” rating.
In my opinion, the S&P500 should continue its uptrend in the coming week though some earnings & macro data could add volatility in the market.
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- blkgoat00·08-25Great article, would you like to share it?1Report