Weekend Market Outlook

Market Outlook entering the Week of November 29th = 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 (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.

COMMENTARY
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.

Stock Market Candlestick charts

2015-11-29 – 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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