Weekend Stock Market Outlook

Stock Market Outlook entering the Week of August 21st = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
US stock markets continued to move sideways last week…a bit surprising given that Friday was an option expiration day.

All indexes remain above their moving averages.  Price/volume action is okay…not too many distribution days, and a lot of stocks digesting recent gains.  OEW analysis suggests a 5% correction is likely near-term (Weekend Update).

When leading stocks are extended, remember to watch your holdings.  Check your sell rules and consider taking some profits if you’ve hit your targets.  One example could be selling half your position if the stock is up 20% or more during the current rally.

The Fed’s annual gathering in Jackson Hole is this week (Thursday / Friday), which could create some volatility for those traders with itchy trigger fingers.

 

2016-08-21 - US Stock Market Averages

2016-08-21 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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Weekend Stock Market Outlook

Stock Market Outlook entering the Week of August 14th = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
Last week was fairly quiet, with the US stock market taking a break and moving sideways; The S&P 500 was up less than 0.1% for the week.

All indexes remain above their moving averages.

Price/volume action remains constructive, although the market did see stalling action on Tuesday last week (another form of distribution).  Leading stocks are maintaining their gains, but are also extended from proper buy points.

OEW analysis continues to signal an uptrend (Weekend Update).

2016-08-14 - US Stock Market Averages

2016-08-14 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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Weekend Stock Market Outlook

Stock Market Outlook entering the Week of August 7th = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages closed above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
A short sell-off early last week made way for an end of the week rebound in the US stock markets.  Friday’s positive price action should carry over into this week.

All indexes remain above their 200 and 50-day moving averages, and found support around their 20-day.

Price/volume action remains constructive; high-growth companies remain extended from their ideal buy points (technical chart patterns), so some profit taking may occur in select market sectors.

OEW analysis suggests the NYSE rises at least another 4% before we could see major resistance (Weekend Update).

2016-08-07 - US Stock Market Averages - Candlestick Charts

2016-08-07 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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Weekend Stock Market Outlook

Stock Market Outlook entering the Week of July 31st = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
Another unimpressive for the US stock markets (which is a good thing), marking two weeks of fairly flat, tight price action.  Right now, it looks like traders and investors are on vacation, as prices have remained in a narrow range since mid-July.

All indexes remain well above their 50-day moving averages, while the 20-day inches closer.

Price/volume action remains constructive; even though many high-growth companies are extended from their ideal buy points (technical chart patterns), the stocks have held on to their price gains.

OEW analysis continues to indicate higher prices in the near term (Weekend Update).

US Stock Market Averages

2016-07-31 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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Weekend Stock Market Outlook

Stock Market Outlook entering the Week of July 24th = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
Last week was unimpressive for the US stock markets.  Price action was fairly flat, as investors and traders seemed to bide their time.  It is earnings season after all, and this week will see a slew of heavy hitters report Q2 results (Apple, Amazon, Facebook, and Twitter to name a few). And there is a Fed meeting this week.

All indexes remain well above their moving averages, and price/volume action remains constructive.  OEW analysis has entertained several scenarios recently, as the anticipated bear market never really materialized, and all of which point to higher highs in the short term.

2016-07-24 - US Stock Market Averages

2016-07-24 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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Weekend Stock Market Outlook

Stock Market Outlook entering the Week of July 17th = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
Last week was very positive for US stocks.  All indexes remain above their moving averages, and price/volume action was strong (i.e. rise on higher trading volume, fall on lower trading volume).  OEW analysis still shows an uptrend as well.

Given that market prices are near all time highs, I expect some selling pressure over the next few days, but not enough to derail the uptrend. With the indexes quite a bit above their short-term moving averages, traders are likely to take profits while investors look for opportunities to add to their positions when the trading subsides.

2016-07-17 - US Stock Market Averages

2016-07-17 – US Stock Market Averages

 

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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Weekend Stock Market Outlook

Stock Market Outlook entering the Week of July 10th = Uptrend

MOVING AVERAGES:

  • Short-term (20 DMA): Uptrend 
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend 
    All the major stock market averages remained above their 50-day moving averages.
  • Long-term (200 DMA): Uptrend 
    All the major stock market averages remained above their 200-day moving averages.

COMMENTARY
Investors and traders remained festive during the shortened 4th of July trading week, even if trading volumes were below average.

All the major indexes remain above their moving averages, and price/volume action remains positive.  With Friday’s push to all time highs, OEW says the US markets passed a key resistance level and now have room to run higher.

It looks like you can let those gains ride a bit longer!

2016-07-10 - US Stock Market Averages

2016-07-10 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of stockcharts.com.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
Posted in Historical Data, Market Trends, Other Blogs | Tagged , , , , , | Leave a comment