Market Outlook of S&P500 - 11Nov24 - 20+ indicators point to a surge?

KYHBKO
11-11

Market Outlook of S&P500 - 11Nov24

Observations:

  • The MACD indicator is on an uptrend.

  • 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.

  • Chaikin’s Monetary flow (CMF) shows a downtrend. This implies more selling momentum than buying. The CMF seems to be moving sideways - applying similar momentum by both buyers and sellers.

The market went on a run following Trump’s victory in the Presidential election.

All 20 indicators point to a “Buy” rating (using daily intervals).

Note that there are 2 indicators showing “overbought”. Will there be a retracement in the coming days?

The most recent candlestick patterns are pointing to a downward pattern.

For the coming week, the S&P500 could retrace with the earnings providing some volatility.

@TigerStars

$.SPX(.SPX)$

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

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  • zookie
    ·11-11
    Interesting analysis
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    • KYHBKO: 
      it is technical analysis using lagging indicators
      11-13
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