Safe Investing – Weekend Market Outlook

Market Outlook entering the Week of Dec 7th = Uptrend

MOVING AVERAGES

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

COMMENTARY
Volume/price analysis continues to show a confirmed uptrend with 2 high-volume selling days.

Key S&P500 price levels to watch, courtesy of Elliott Wave Analysis:

  • Resistance: 2,070* / 2,085
  • Support: 1,973 / 2,019

*I kept 2,070 as resistance for the time being, as the S&P took several attempts to overtake this level.

Elliott Wave Analysis from the ELLIOTT WAVE lives on by Tony Caldaro

Candlestick charts for the US Market Averages

2014-12-06 – US Stock Market Averages

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

2 Responses to Safe Investing – Weekend Market Outlook

  1. tom yeston says:

    Love it …you went tyo U of M and use MSU colors—Go Green…Go White

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