Market Outlook of S&P500 - 25Nov24 > 21 indicators point to a rally??
Market Outlook of S&P500 - 25Nov24
Observations:
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The MACD indicator is showing a downtrend but there seems to be a chance for a top crossover too.
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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 selling momentum than buying. The CMF seems to be moving sideways - applying similar momentum by both buyers and sellers.
From the technical analysis (daily interval), 21 indicators point to a “Strong buy” rating.
21 indicators above point to a “Buy” rating and none to a “Sell” rating.
From the candlestick patterns above, the latest seems to point to a bullish run.
From the above, the S&P500 should continue its uptrend.
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