Market Outlook of S&P500 -21Oct24 > after 20+ indicators ...
Market Outlook of S&P500 -21Oct24
Observations:
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The MACD indicator is showing an uptrend.
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Moving Averages (MA). Both the MA50 line and the MA200 line are on an uptrend. Both MA50 and MA200 lines are below the last candle. Thus, it could be read as bullish for both the mid and the long term.
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The 3 Exponential Moving Averages (EMA) lines are on an uptrend.
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Chaikin’s Monetary flow (CMF) shows an uptrend. This implies more buying momentum than selling.
There is a “Strong Buy” rating with 1D interval. There are 20 technical indicators with a “Buy” rating and 0 with a “Sell” rating.
There are also 3 indicators that point to a status of “Overbought”.
From the candlestick patterns above, these seem to be more bearish candlestick patterns.
From the indicators above, they point to a bullish run in the coming days though we should not be surprised if there are some retracement.
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