Market Outlook entering the Week of September 13th = Downtrend

MOVING AVERAGES

• Short-term (20 DMA): Downtrend
  4 of the 5 major stock market averages remained below their 20-day moving averages.

• Intermediate (50 DMA): Downtrend
  All the major stock market averages remained below their 50-day moving averages.

• Long-term (200 DMA): Downtrend
  All of the major stock market averages remained below their 200-day moving averages.

COMMENTARY
A little less volatility last week, and US stocks were able to gain some ground (~2%).  That also means we’re still waiting for a trend confirmation.

We’ll likely need a retest of recent lows (1,850’s for the S&P500) to make that determination.  Failure to hold that level results in a bear market, and a bounce of that level results in some nice gains as the bull continues.

2015-09-13 – US Stock Market Averages

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