Weekend Market Outlook

Market Outlook entering the Week of November 22nd = Medium-term uptrend


  • Short-term (20 DMA): Buy Signal 
    All the major stock market averages rose above their 20-day moving averages.
  • Intermediate (50 DMA): Uptrend
    All the major stock market averages (NYSE & Russell 2000) rose or remained above  their 50-day moving averages.
  • Long-term (200 DMA): Mixed 
    3 of the 5 major stock market averages rose above their 200-day moving averages.

US market prices rebounded last week, but volume was less than stellar.  The current uptrend contains a lot distribution days, and OEW continues to sound the alarm that we’re in the final stages of the current bull market.   So now is NOT time to initiate new or large positions unless you have a short-term time horizon.

I’ve continued to cut losses as needed, but now I’m also looking for signs of weakness in my more profitable positions (prices falling below key technical support levels, negative changes in financial performance, etc.)

2015-11-22 - US Stock Market Candlestick Charts

2015-11-22 – 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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