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.
2015-12-13 – 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
