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
Τhanks ѵery inteгesting blog!