Stock Market Outlook entering the Week of December 13th = Downtrend
MOVING AVERAGES
- Short-term (20 DMA): Downtrend
All the major stock market averages fell below their 20-day moving averages.
- Intermediate (50 DMA): Downtrend
All the major stock market averages fell below their 50-day moving averages.
- Long-term (200 DMA): Downtrend
All major stock market averages fell or remained below their 200-day moving averages.
COMMENTARY
Last week saw a continuation of bearish market action, with stocks taking a major beating on Friday. Price/volume action, as well as OEW both confirm that a correction has taken hold, which is the bad news.
The good news? The bull market that won’t die will do just that, extending into 2016.
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