Market Outlook entering the Week of Dec 7th = Uptrend
- 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.
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
Love it …you went tyo U of M and use MSU colors—Go Green…Go White
Maize and Blue makes green $