Safe Investing – Weekend Market Outlook

Market Outlook entering the Week of August 31st = Uptrend

Short-term (20 DMA): Uptrend
At the end of the week, all major averages closed above their 20-day moving averages.

Intermediate (50 DMA): Uptrend
All the major stock market averages remained above their their 50 DMA.

Tony’s Objective Elliott Wave analysis continues to be spot on, calling the market’s new highs last week.  William O’Neil’s Big Picture analysis continued to indicate a “confirmed uptrend”.

The lack of trading volume remains a concern, but is typically of the summer season.  QE 3 is winding down (ends in October), and there are issues with the market’s relative strength.  Trader’s return from summer vacation after Labor Day, which should clear up any remaining doubt about market direction.

Long-term (200 DMA): Uptrend
The current bull market [March 2009 – Present] continues.

Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro

Candlestick Charts for US Stock Markets - 2014-08-30

US Stock Market Charts – 2014-08-30

Advertisements
This entry was posted in Historical Data, Market Trends, Other Blogs and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s