Market Outlook of S&P500 - 28Oct24 > is it time to retrace?
@KYHBKO：
Market Outlook of S&P500 -28Oct24 Observations: The MACD indicator has started a downtrend following a top crossover. 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. The 3 Exponential Moving Averages (EMA) lines are on an uptrend and are starting to show signs of converging. This demonstrates a potential change in trend. Chaikin’s Monetary flow (CMF) shows an uptrend. This implies more buying momentum than selling. The CMF seems to be moving sideways - applying similar momentum by both buyers and sellers. From investing dot com, the daily technical indicators are showing a “STRONG BUY” rating. Investing dot com has a “STRONG BUY” rating with 15 indicators with a “BUY” rating and 4 with a “SELL” rating. There are a mix of bullish and bearish candlesticks with more recent candlesticks being bearish. From the above, there is a chance that the market can be going on a downtrend in the coming days. @TigerStars $.SPX(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $Cboe Volatility Index(VIX)$
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