Market Outlook entering the Week of October 19th = Confirmed Downtrend
Short-term (20 DMA): Downtrend
All the major stock market averages ended the week below their 20-day moving averages.
Intermediate (50 DMA): Downtrend
All the major stock market averages ended the week below their 50-day moving averages.
Long-term (200 DMA): Downtrend
All the major stock market averages ended the week below their 200-day moving averages.
Market Commentary
William O’Neil’s Big Picture and the Tony Caldaro’s Objective Elliott Wave analysis continue to show a market in correction.
With so much selling in such a short period of time, a price rebound is likely during the coming week(s)…a good opportunity to adjust your holdings if you haven’t already.
Key price levels from Tony’s analysis range from 1,920 – 1,973 on the S&P500.
Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro
2014-10-19 – US Stock Market Averages
