Weekend Market Outlook

Market Outlook entering the Week of November 8th = 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 remained above their 50-day moving averages.
  • Long-term (200 DMA): Mixed
    3 of the 5 major stock market averages remained above their 200-day moving averages.

COMMENTARY
No major changes over the past week, so the outlook also remains unchanged.   I did notice that some of my dividend/income holdings got hammered last week.  I assume the selling was news-related, stemming from all the talk of a December interest rate hike by the US Federal Reserve.  Whatever the reasons, or your strategy for that matter, keep in mind the following estimates from Tony over at OEW:

The [next] bear market should last about two years and the market should lose between 45% and 50% of its value… After six years of rising prices it is time to prepare for a couple years of declining prices.

Prepare accordingly!

2015-11-08 - Stock Market Averages

2015-11-08 – 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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