Weekly Update 10-24-22

Sentiment: Weekly S&P 500 is still bearish on a weekly timeline but on a daily timeline it is more bullish than last week.

First an update of the upside down SPX daily chart showing the multiple top aka bottom in the S&P 500 is no longer in trouble. We are above it and this is a good short term sign for US stocks.

Click on image to open it. Future weeks will have higher definition images to inspect.

To showcase the bullish idea based on price. Look at this chart with SPX (S&P 500) daily breaking the short term down trend (purple line). Now the next target is getting to the next downtrend line on the S&P 500 as pictured below in the gold line. Apple and other big pieces of the S&P500 will help the market get there once earnings this week come out and support that stocks are not doing as bad as we expected.

Click on image to open it. Future weeks will have higher definition images to inspect.

Earnings can be seen: https://www.earningswhispers.com/calendar