Safe Investing – Weekend Market Outlook

Market Outlook for the Week of July 7th = Uptrend Intact

  • Short-term (20 DMA):
    • The indexes closed above their 20-day moving averages. Per IBD, we’re still in a confirmed uptrend (Distribution day count is 3 for S&P500, 2 for NASD
  • Intermediate (50 DMA):
    • Market averages remain above their 50-day moving averages,and Elliott wave continues to indicate an uptrend.
  • Long-term (200 DMA):
    • Market averages are far extended from their 200 day moving averages, and the bull market continues per Elliot Wave.

Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro

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