FullyInformed.com

Stock Market Outlook for Wed Mar 22 2023 – Unconfirmed Up Signal

Mar 22, 2023 | Stock Market Outlook

Stock Market Outlook Unconfirmed Up Signal

With the government basically placing a guarantee on every person’s bank account, investors jumped back into stocks and pushed the index back to the 4000 level, one day ahead of the Fed’s next interest rate decision.

By the close the S&P was up 51 points to end the day at 4002. The NASDAQ was up 184 points to end the day at 11,860.

The close saw a new unconfirmed up signal generated from the MACD technical tool.

Let’s review the closing technical indicators from Tue Mar 21 2023 to see what we should expect for Wed Mar 22 2023.


Stock Market Outlook Chart Comments At The Close on Tue Mar 21 2023 

The index closed with a bullish candlestick for Wednesday.

The Upper Bollinger Band is turning down which is a bearish signal. The Lower Bollinger Band is turning higher which is a bullish signal and is entering into a Bollinger Bands Squeeze for Wednesday. At present the signals look positive for a bounce higher.

The 200 day moving average is falling back which is bearish. The 21 day is continuing to descend after generating a down signal on Friday. It is below all major moving averages again.

Meanwhile the 50 day is moving further above the 200 day moving average which is bullish.

At present there are 4 down signals in place since April 24 and 3 up signals since Jan 13.

The chart is is more bullish for Wednesday ahead of the Fed’s interest rate decision.

Stock Market Outlook review of Tue Mar 21 2023

Stock Market Outlook: Technical Indicators Review:

Momentum: Momentum is rising and positive.

  • Settings: For momentum I use a 10 period when studying market direction.

MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a new unconfirmed up signal at the close today. The histogram turned positive..

  • Settings: For MACD Histogram, I am using the Fast Points set at 13, Slow Points at 26 and Smoothing at 9. 

Ultimate Oscillator: The Ultimate Oscillator is rising and near overbought.

  • Settings: The Ultimate Oscillator settings are: Period 1 is 5, Period 2 is 10, Period 3 is 15, Factor 1 is 4, Factor 2 is 2 and Factor 3 is 1. These are not the default settings but are the settings I use with the S&P 500 chart set for 1 to 3 months.

Slow Stochastic: The Slow Stochastic has an up signal in place and still climbing indicating Wednesday should be higher.

Settings: For the Slow Stochastic I use the K period of 14 and D period of 3. The Slow Stochastic tries to predict the market direction further out than just one day.

Relative Strength Index: The RSI signal is rising sharply and near overbought.

  • Settings: The relative strength index is set for a period of 5 which gives it 5 days of market movement to monitor.  It is often the first indicator to show an overbought or oversold signal.

Rate of Change: The rate of change signal is rising and nearing positive readings.

  • Settings: Rate Of Change is set for a 21 period. This indicator looks back 21 days and compares price action from the past to the present. With the Rate Of Change, prices are rising when signals are positive. Conversely, prices are falling when signals are negative. As an advance rises the Rate Of Change signal should also rise higher, otherwise the rally is suspect. A decline should see the Rate Of Change fall into negative signals. The more negative the signals the stronger the decline.





Support and Resistance Levels To Be Aware Of:

4100 is resistance

4090 is resistance

4075 is resistance

4050 is resistance

4030 is resistance

4025 is resistance

4000 is resistance

3975 is light support

3965 is light support

3950 is good support

3930 is light support

3900 is good support

3870 is light support

3850 is good support

3825 is light support

3810 is light support

3800 is good support

3775 is good support


Stock Market Outlook for Wed Mar 22 2023 

For Wednesday the technical indicators are more bullish heading into the Fed’s decision on interest rates. With investors convinced the Fed will either pause or place just a quarter point rise and then signal a pause, Wednesday should see the markets climb higher leading toward the 2:00 PM announcement.

A higher day on Wednesday will generate a confirmed up signal from the MACD technical indicator. All the indicators have gained strength.

Potential Economic and Political Market Moving Events

The big event for the week is today when the Fed releases what is expected to be a quarter point rate increase. If there is no rate increase expect a large rally to the upside to start this afternoon.

Wednesday:

2:00 Fed decision on interest rates

2:30 Fed Chair Powell’s news conference


Stock Market Outlook Archives

Stock Market Outlook for Thu Mar 28 2024 – Choppy – Dips Likely – But Higher

Stock Market Outlook Choppy Dips Higher
Prior Trading Day Summary: On Wednesday investors returned and snapped up stocks that had drifted lower. The SPX bounced at the open and by the close it was up 45 ....... Read More

Morning Investing Strategy Notes for Wed Mar 27 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Wed Mar 27 2024 discuss the outlook for Wednesday and comments on a possible correction and what it might entail. There ....... Read More

Stock Market Outlook for Wed Mar 27 2024 – Unconfirmed MACD Down Signal

Stock Market Outlook Unconfirmed MACD Down Signal
Prior Trading Day Summary: I lost my power shortly after the markets closed. Articles this evening will be shorter if I can post any. On Tuesday trading volume picked up ....... Read More

Morning Investing Strategy Notes for Tue Mar 26 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Tue Mar 26 2024 discuss the outlook for Tuesday. As well there are comments on support levels to watch in the ....... Read More

Stock Market Outlook for Tue Mar 26 2024 – Still Bullish

Stock Market Outlook still bullish
Prior Trading Day Summary: On Monday low trading volumes hindered the chance of a positive close. The SPX saw just 3.4 billion shares traded. This matches the volume on last ....... Read More

Morning Investing Strategy Notes for Mon Mar 25 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Mon Mar 25 2024 discuss the outlook for Monday and the shortened week ahead of the Easter holiday. There are a ....... Read More

Stock Market Outlook for Mon Mar 25 2024 – Dip Likely But Higher Close

Stock Market Outlook - Higher
Prior Trading Day Summary: On Friday investors took profits ahead of the upcoming shortened Easter week with indexes sitting at all-time highs. On Friday the SPX closed down just 7 ....... Read More

Morning Investing Strategy Notes for Fri Mar 22 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Fri Mar 22 2024 discuss the outlook for Friday. There are a large number of trade ideas outlined including FedEx Stock ....... Read More

Stock Market Outlook for Fri Mar 22 2024 – Choppy – Dips Possible But Still Up

Stock Market Outlook Dip Likely But Still Up
Prior Trading Day Summary: On Thursday all 3 indexes closed at new all-time highs for a second straight day. Volumes remained decent but stocks are seeing some selling as investors ....... Read More

Morning Investing Strategy Notes for Thu Mar 21 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Thu Mar 21 2024 discuss the outlook for Thursday following Wednesday's FOMC interest rate decision and Fed Chair Powell's news conference. ....... Read More

Stock Market Outlook for Thu Mar 21 2024 – Higher Still

Stock Market Outlook Higher Still
Prior Trading Day Summary: On Wednesday the SPX, Dow Jones and NASDAQ indexes all closed at new all-time highs. Comments from Fed Chair Powell reaffirming 3 rate cuts in 2024 ....... Read More

Morning Investing Strategy Notes for Wed Mar 20 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Wed Mar 20 2024 discuss the outlook for Wednesday and the latest FOMC interest rate decision. There are also a number ....... Read More

Stock Market Outlook for Wed Mar 20 2024 – All About The Fed – Bullish

All About The Fed
Prior Trading Day Summary: On Tuesday the morning started with a dip down to 5131 but buyers were waiting for the dip and volumes picked up. Deep dips in a ....... Read More

Morning Investing Strategy Notes for Tue Mar 19 2024

Morning Investing Strategy Notes
For FullyInformed Members the morning Investing Strategy Notes for Tue Mar 19 2024 discuss the outlook for Tuesday following Monday's rally and before Wednesday's latest FOMC interest rate decision. There ....... Read More

Stock Market Outlook for Tue Mar 19 2024 – Choppy Dips Likely But Still Up

Stock Market Outlook choppy dips like but up
Prior Trading Day Summary: On Monday investors took advantage of the past two weeks of weakness to jump back into stocks. By the close the S&P was up 32 points ....... Read More

Search

Select to view all results...

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Recent Outlooks

Stock Market Outlook for Thu Mar 28 2024 – Choppy – Dips Likely – But Higher

Prior Trading Day Summary: On Wednesday investors returned and snapped up stocks that had drifted lower. The SPX bounced at the open and by the close it was up 45 points to close at 5248. The NASDAQ rose 83 points …

Morning Investing Strategy Notes for Wed Mar 27 2024

For FullyInformed Members the morning Investing Strategy Notes for Wed Mar 27 2024 discuss the outlook for Wednesday and comments on a possible correction and what it might entail. There are a number of trade ideas outlined including FedEx Stock …

Stock Market Outlook for Wed Mar 27 2024 – Unconfirmed MACD Down Signal

Prior Trading Day Summary: I lost my power shortly after the markets closed. Articles this evening will be shorter if I can post any. On Tuesday trading volume picked up as stocks fell for another day. The SPX closed near …

Morning Investing Strategy Notes for Tue Mar 26 2024

For FullyInformed Members the morning Investing Strategy Notes for Tue Mar 26 2024 discuss the outlook for Tuesday. As well there are comments on support levels to watch in the SPX for the week. There are a number of trade …

Stock Market Outlook for Tue Mar 26 2024 – Still Bullish

Prior Trading Day Summary: On Monday low trading volumes hindered the chance of a positive close. The SPX saw just 3.4 billion shares traded. This matches the volume on last Friday. While poor , it is also bullish as it …

Morning Investing Strategy Notes for Mon Mar 25 2024

For FullyInformed Members the morning Investing Strategy Notes for Mon Mar 25 2024 discuss the outlook for Monday and the shortened week ahead of the Easter holiday. There are a number of trade ideas outlined including FedEx Stock (FDX), Nike …

Stock Market Outlook for Mon Mar 25 2024 – Dip Likely But Higher Close

Prior Trading Day Summary: On Friday investors took profits ahead of the upcoming shortened Easter week with indexes sitting at all-time highs. On Friday the SPX closed down just 7 points to 5234. For the week the index was up …

Morning Investing Strategy Notes for Fri Mar 22 2024

For FullyInformed Members the morning Investing Strategy Notes for Fri Mar 22 2024 discuss the outlook for Friday. There are a large number of trade ideas outlined including FedEx Stock (FDX), Nike Stock (NKE), Lululemon Athletica Stock (LULU),  and more …

Stock Market Outlook for Fri Mar 22 2024 – Choppy – Dips Possible But Still Up

Prior Trading Day Summary: On Thursday all 3 indexes closed at new all-time highs for a second straight day. Volumes remained decent but stocks are seeing some selling as investors are taking a few profits with the indexes at new …

Morning Investing Strategy Notes for Thu Mar 21 2024

For FullyInformed Members the morning Investing Strategy Notes for Thu Mar 21 2024 discuss the outlook for Thursday following Wednesday’s FOMC interest rate decision and Fed Chair Powell’s news conference. There are a large number of trade ideas outlined including …

Stock Market Outlook for Thu Mar 21 2024 – Higher Still

Prior Trading Day Summary: On Wednesday the SPX, Dow Jones and NASDAQ indexes all closed at new all-time highs. Comments from Fed Chair Powell reaffirming 3 rate cuts in 2024 were still “on the table” was all that investors needed …

Morning Investing Strategy Notes for Wed Mar 20 2024

For FullyInformed Members the morning Investing Strategy Notes for Wed Mar 20 2024 discuss the outlook for Wednesday and the latest FOMC interest rate decision. There are also a number of trade ideas outlined including Chewy Stock (CHWY), SPY ETF, …

Stock Market Outlook for Wed Mar 20 2024 – All About The Fed – Bullish

Prior Trading Day Summary: On Tuesday the morning started with a dip down to 5131 but buyers were waiting for the dip and volumes picked up. Deep dips in a number of big caps like NVIDIA Stock (NVDA) found ready …

Morning Investing Strategy Notes for Tue Mar 19 2024

For FullyInformed Members the morning Investing Strategy Notes for Tue Mar 19 2024 discuss the outlook for Tuesday following Monday’s rally and before Wednesday’s latest FOMC interest rate decision. There are also a number of trade ideas outlined including Chevron …