Market Outlook entering the Week of March 1st = 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
Another positive week for the stock markets, although high-volume selling dominated on Friday.  Price and volume analysis continues to show an uptrend, and with growth stocks leading the way.

Intermediate-term Elliott Wave Analysis shows support and resistance levels from the past 2 weeks are unchanged.

• Resistance: 2,131 / 2,198
• Support: 2,070 / 2,085

Sources:

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  For price/volume data, head to stockcharts.com.

2015-03-01 – US Stock Market Averages