Market Outlook entering the Week of November 29th = Medium-term uptrend
- 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 (NYSE & Russell 2000) 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.
A short, lightly traded week due to the Thanksgiving holiday. Price/volume cues continue to indicate an uptrend. And we’re still in an uptrend per OEW, although not without some storm clouds on the horizon:
Typically markets lose 45% to 50% of their value during these [upcoming bear market] types of declines. With 55% of the world’s indices already in confirmed bear markets, and another 30% looking like they may already be in bear markets, [the current uptrend] will certainly run into some headwinds after it makes new highs.
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