S&P500 outlook for the week (06Jan2025)

KYHBKO
01-06

Market Outlook of S&P500 - 06Jan2025

Observations:

  • The MACD indicator is showing a downtrend.

  • Moving Averages (MA). Both the MA50 line and the MA200 line are on an uptrend. The last candle is below the MA50 line and above the MA200 line. This implies a bearish mid-term and bullish long-term.

  • The 3 Exponential Moving Averages (EMA) lines are on a downtrend.

  • Chaikin’s Monetary flow (CMF) shows a downtrend.

From technical analysis (daily interval), the 20 indicators (technical & moving averages) point to a “Neutral” rating. The breakdown reveals 8 indicators with a “Buy” rating and 12 indicators with a “Sell” rating.

Now, let us look at candlestick patterns.

There seem to be more bullish candlestick patterns from above.

Based on the above technical analysis (1D chart), the S&P500 should be on a downtrend in the coming week.

@TigerStars

$.SPX(.SPX)$

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

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