S&P 500 EMA Cross: 200 EMA Likely to Cross Back Above 500 EMA

13 de jun. de 2023

The S&P 500 has been in a downtrend for the past few months. However, I believe that the market is about to reverse course and start moving higher. It has formed an inverse head and shoulders pattern. This is a bullish pattern that is often followed by a significant move higher. The 10-day moving average has crossed above the 20-day moving average. The 200-day moving average (EMA) is about to cross back above the 500-day EMA. This is a bullish signal that suggests that the momentum in the market is shifting to the upside.

The price could find support on top of the 10 and 20ema if it moves down when it reaches the 4.400 zone. This is because the 10 and 20ema are moving averages that have historically provided support for the price. If the price is able to find support on top of these moving averages, it could move higher.

17 de jun. de 2023

Nota

Hi everyone,

I just wanted to make a quick update on my previous idea titled "S&P 500 EMA Cross: 200 EMA Likely to Cross Back Above 500 EMA." I accidentally put EMA in the title instead of SMA. The correct title should be "S&P 500 SMA Cross: 200 SMA Likely to Cross Back Above 500 SMA."

I apologize for the mistake and I hope this update doesn't cause any confusion.

Thanks