Market Outlook of S&P500 - 18Nov24 > 18 indicators are split in their outlook
Market Outlook of S&P500 - 18Nov24
Observations:
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The MACD indicator is about to complete a top crossover. This implies a potential downtrend coming up.
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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 but looks to converge soon. This implies a potential change of the current trend.
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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.
From the 18 indicators, 9 point to a “Buy” rating (using daily intervals) and 9 point to a “Sell” rating. This rendered a “Neutral” rating for the outlook of S&P500.
The last few candlesticks seem to be bullish.
From the above, the S&P500 should continue a downtrend in the coming days.
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