Weekend Stock Market Outlook

Stock Market Outlook entering the Week of February 21st  = Mixed 

MOVING AVERAGES

  • Short-term (20 DMA): Buy Signal
    All the major stock market averages rose above 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 remained below their 200-day moving averages.

COMMENTARY
Some time off was just what the U.S. markets needed, as the holiday shortened week saw prices rally above their 20-day moving averages (our first clear buy signal of 2016).  Even better, the new uptrend was confirmed midweek by price and volume action.  OEW has yet to confirm, but an uptrend is highly likely.  That said, we’re still well below the 50 and 200 day moving averages.

The market outlook “Mixed”, reflecting the improved short-term conditions.

2016-02-21 - US Stock Market Averages

2016-02-21 – 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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