To The Moon

Market Outlook - 20 Mar 2023

S&P500 1D chart

Technical observations of the S&P500 1D chart:

• The stochastic indicator points to an uptrend though there could be a reversal to a downtrend.

• The MACD indicator points to a downtrend but we may expect a cross-over (reversal) soon.

• Moving Averages (MA). The MA50 line implies an uptrend in the mid-term. The MA200 line implies a downtrend in the long term. With the last candle under the MA50 line and cutting the MA200 line, this can be interpreted as a downtrend in both the mid-term and bullish for the long-term. 

• Exponential Moving Averages (EMA). The lines are pointing downwards, implying a downtrend.

Now, let us add some more technical indicators for the 1D S&P500 chart:

• Most of the signals point to a bearish outlook, recommending “Strong Sell” as per the investing dot com technical indicators above.

As such, it is likely that the market remains bearish based on the above technical indicators.

@TigerStars

$S&P 500(.SPX)$