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
The Safe Investing Blog 