S&P500 outlook for the week - TA with over 20 indicators

user
KYHBKO
2024-05-26

Market Outlook of S&P500 - 27May24

Observations:

  • The MACD indicator is on an uptrend. A top crossover is forming and we should see a reversal soon.

  • Chaikin Money Flow (CMF) has crossed the zero line in the middle which implies an uptrend.

  • Moving Averages (MA). Both the MA50 line and the MA200 line are on an uptrend. The last candle is above both the MA 50 line and the MA 200 line. Thus, it could be read as bullish for the long term and the mid-term.

  • Exponential Moving Averages (EMA). The 3 EMA lines are on an uptrend.

  • I have replaced Stochastic with CMF to incorporate consideration of volume. Stochastic and MACD are similar with Stochastic being “more active” and more capable for “false” signals.

Investing recommends a “STRONG BUY” with 21 indicators showing a “Buy” rating and 1 a “Sell” rating.

From the collection of indicators above, it is possible that the S&P500 rise in the coming days. A MACD top crossover is forming and thus, a reversal is on the cards too.

@TigerStars

$S&P 500(.SPX)$

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

$Cboe Volatility Index(VIX)$

Market Pullback Begins? Sell or Hedge?
After reaching a high of 5341, the market began to pull back, closing at 5266 points last night. ---------------------------- Having reached the target ahead of schedule, what will happen in the market in the next 7 months? Following the new high in May, where will the market retrace to next? Will you sell stocks to take profit or hedge? Or will you hold firm?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • bumpy
    2024-05-27
    bumpy
    So take this information with a grain of salt and do your own research.
    • KYHBKO: 
      yes, always do our own research.
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