Weekend Market Outlook

Market Outlook entering the Week of September 20th = Mixed

MOVING AVERAGES

  • Short-term (20 DMA): Buy Signal
    All the major stock market averages rose above 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
On the upside, markets flashed a short-term buy signal by crossing their 20-day moving averages.

On the downside, markets encountered downward price action on very high trading volumes Thursday and Friday.  Apparently, the big investors weren’t too happy about the Fed’s decision not to raise rates.

We’re still waiting for a retest of the 1860’s.  According to OEW, a bounce will take us back to new price highs, effectively extending the bull market another 2-6 months before giving way to bear market.  If that price level doesn’t hold and the market continues downward, the bull market is over.

2015-09-20 - US Stock Market Averages

2015-09-20 – 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 rose above their moving averages during the trading week
  • Sell signal=Market indexes fell below their moving averages during the trading week
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