Weekend Market Outlook

Market Outlook entering the Week of March 29th = Uptrend @ Risk

MOVING AVERAGES

  • Short-term (20 DMA): Sell Signal
    All the major stock market averages fell below their 20-day moving averages
  • Intermediate (50 DMA): Sell Signal
    Three of the five major stock market averages fell below their 50-day moving averages
  • Long-term (200 DMA): Uptrend
    All the major stock market averages remained above their 200-day moving averages

COMMENTARY
Another week, another flip-flop; seems more like U.S. politics than U.S. stock market.  As discussed, the NYSE, DJIA, and S&P500 couldn’t rise above their February peaks, with those levels triggering high volume sell offs. With the reversal from last week’s uptrend outlook comes new supporter/resistance levels for the S&P:

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

March was a rough month for investing in U.S. stocks.  Remember to keep your losses small!

2015-03-29 - US Stock Market Average Candlestick Charts

2015-03-29 – US Stock Market Averages

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.

Moving Average Signals:

  • Uptrend=Market indexes remained above their moving average during the trading week
  • Downtrend=Market indexes remained below their moving average during the trading week
  • Buy signal=Market indexes fell below their moving averages during the trading week
  • Sell signal=Market indexes rose above their moving averages during the trading week
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