Weekend Stock Market Outlook

Stock Market Outlook entering the Week of January 17th = Downtrend 

MOVING AVERAGES

  • Short-term (20 DMA): Downtrend
    All the major stock market averages remained below their 20-day moving averages.
  • Intermediate (50 DMA): Downtrend 
    All the major stock market averages remained below their 50-day moving averages.
  • Long-term (200 DMA): Downtrend 
    All the major stock market averages fell or remained below their 200-day moving averages.

COMMENTARY
Another volatile week in US equities, continuing the sell-off that rang in the new year.

Price/volume action was awful.  The fledgling uptrend that started two weeks ago had no chance.

OEW called an end to the 2009 bull market, citing last week’s fall through various technical support levels and closing below the August lows (S&P500).

In a bear market, your objectives flip-flop; instead of “buy the dips”, it’s time to “sell strength”.

2016-01-17 - US Stock Market Averages

2016-01-17 – 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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