Market Outlook entering the Week of April 12th = Uptrend
- Short-term (20 DMA): Buy Signal
All the major stock market averages rose or remained above their 20-day moving averages.
- Intermediate (50 DMA): Buy Signal
All the averages rose or remained above their 50-day moving averages.
- Long-term (200 DMA): Uptrend
All the major stock market averages remained above their 200-day moving averages
The markets shrugged off its recent weakness and moved higher last week. The NYSE, NASDAQ, and Russell 2000 are ready to retest their respective price high’s from early March. If you’ve pruned your holdings over the past few months, you should be well positioned if the markets power through the next resistance level.
- Resistance: 2,131 / 2,198
- Support: 2,070 / 2,085
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