Safe Investing – Weekend Market Outlook

Market Outlook entering the Week of Dec 14th = Mixed


  • Short-term (20 DMA): Downtrend
    All the major stock market averages ended the week below their 20-day moving averages.
  • Intermediate (50 DMA): Mixed
    The Russell 2000 and Nasdaq closed above their 50-day moving average, along with the DJIA and the S&P500 (although just barely).  The NYSE closed below the 50-day moving average.
  • Long-term (200 DMA): Mixed
    The NYSE closed below the 200-day moving average, while the other major stock market averages ended the week above the 200-day moving averages.

Volume/price analysis of the major indexes moved from a confirmed uptrend to an uptrend under pressure, adding another 2-3 high-volume selling days to the count for a total of 4-5 (depending on the index).

Elliott Wave Analysis shows an intermediate downtrend is underway, but how long and how much remain are uncertain.

Time to prune that low-hanging fruit from your portfolio by selling investments that are showing signs of technical and/or fundamental weakness (breaking key support levels, lowering future revenue predictions, missing quarterly earnings, etc.).

Key S&P500 price levels to watch:

  • Resistance: 2,019 / 2,070
  • Support: 1,956 / 1,973

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

Candlestick charts for the US market averages

2014-12-14 – US Stock Market Averages

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