Market Outlook entering the Week of March 1st = 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.
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
For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro. For price/volume data, head to stockcharts.com.