Weekend Stock Market Outlook

Stock Market Outlook entering the Week of February 28th  = Uptrend

MOVING AVERAGES

  • Short-term (20 DMA): Uptrend
    All the major stock market averages remained above their 20-day moving averages.
  • Intermediate (50 DMA): Mixed
    3 of the 5 major stock market averages rose above their 50-day moving averages.
  • Long-term (200 DMA): Downtrend 
    All the major stock market averages remained below their 200-day moving averages.

COMMENTARY
Market conditions continued to improve last week, putting the market outlook into uptrend territory.  Price/volume action remained strong, and a majority of the indexes rose above their 50 day moving averages.

That said, OEW still shows us in a bear market, which means that uptrends will be short and sweet. Trade with caution!

2016-02-28 - Stock Market Averages

2016-02-28 – 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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