Market Outlook entering the Week of Jan 4th = Mixed

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
A short, typical holiday trading week; the markets rose on low trading volume.

O’neil’s price/volume analysis still shows an uptrend under pressure.

Elliott Wave Analysis continues to show intermediate-term uptrends, although the key S&P500 price levels reverted to those from a few weeks ago :

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

Here’s to your continued investing success in 2015!

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

2015-01-04 – US Stock Market Averages