To The Moon

Market Outlook (S&P500)

MA - moving average, EMA - exponential moving average

1D Chart for S&P500

Technical Analysis for the 1D S&P500 chart:

• The stochastic indicator looks to be peaking and is on an uptrend.
• The MACD indicator is on an uptrend.
• The MA50 line looks to be going sideways. MA200 line is still showing a downtrend. There is a potential setup of a golden cross when the MA50 cuts the MA200 line from below. Let us monitor this as it is a typically bullish signal.
• The candles are above the MA50 line and just had the crossover (cutting) of the MA200 kine. Thus, it looks bullish in the mid-term and should be bullish for the long term after the candle breaks above the MA200 line.
• The EMA lines have converged and are moving in an uptrend. This is confirmed by the “knot” seen when the top and bottom EMA lines (8 EMA & 20 EMA) changed their positions.

From the above, S&P500 looks to be on an uptrend.

@TigerStars

$S&P 500(.SPX)$