After nearly a 2 year-long absence, the monthly Moving Average Convergence Divergence (MACD) histogram has finally turned positive, signaling a potential shift in the market sentiment.
The appearance of the first green monthly MACD candle since August 2020 (following a massive selloff) for
SPY in July 2023 is a notable technical development.
It suggests a potential shift in market sentiment and the possibility of a renewed or strengthened bullish trend. Market participants should closely monitor subsequent price action and additional indicators to confirm the sustainability of this momentum. As always, it is essential to exercise caution and conduct further analysis before making any investment decisions based on technical indicators alone.
The appearance of the first green monthly MACD candle since August 2020 (following a massive selloff) for
SPY in July 2023 is a notable technical development.It suggests a potential shift in market sentiment and the possibility of a renewed or strengthened bullish trend. Market participants should closely monitor subsequent price action and additional indicators to confirm the sustainability of this momentum. As always, it is essential to exercise caution and conduct further analysis before making any investment decisions based on technical indicators alone.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.