Weekend Market Outlook

Market Outlook entering the Week of October 18th = Medium-term uptrend

MOVING AVERAGES

  • Short-term (20 DMA): Uptrend
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend
    All the major stock market averages closed above 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
US stocks extended their rally through week 3.  To reiterate my comments from last week, we don’t know is how long the rally will last, so consider a two prong approach:  make money by trading shorter-term growth stocks, and take profits from your longer term positions.

Sadly, the end of the current bull market is on the horizon.  But there is a silver lining.  Here’s what OEW has to say:

When it does conclude a … bear market should then follow, with the market losing between 45% and 50% of its value. This is likely to take one to two years. After that, a 30+ year Cycle wave [3] should get underway, with bull/bear markets along the way…

Talk about a once in a lifetime investing opportunity!

2015-10-18 - Stock Market Averages

2015-10-18 – 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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