Can the bulls run on this week for S&P500? S&P500 technical analysis (28Apr25)

Market Outlook of S&P500 - 28Apr25

Observations:

• The MACD indicator has completed the bottom cross-over that suggests an uptrend.

• Moving Averages (MA). The MA50 line has started a downtrend, while the MA200 line is on an uptrend. The MA200 line may tilt into a downtrend soon. This implies a downtrend in the mid-term and a bullish trend in the long term. A death cross has surfaced when the MA50 line cuts the MA200 line from above. A death cross can be seen as a bearish indicator.

• Candle. The last candle is below the MA50 and MA200 lines, implying a bearish outlook for the medium and long term.

• The three Exponential Moving Averages (EMA) lines are showing a downtrend. However, the lines are starting to converge, and a reversal should be confirmed soon.

• Chaikin’s Monetary Flow (CMF) is in the “uptrend zone” (above the 0 line) even though the trend seems to be ranging. This implies more buying than selling.

• Let us monitor the magnitude of the rise and fall alongside the volume.

Using the daily interval, the technical indicators and moving averages point to a “Buy” rating. There are 13 indicators with a “Buy” rating and 7 with a “Sell” rating.

Let us look at candlestick patterns.

The latest candle “Bullish doji star”, is bullish. There are still a considerable number of “bearish” candles recently. Let us exercise caution.

Given the above indicators and candlestick patterns, the S&P 500 points to a more “bullish” outlook.

@TigerStars

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