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
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
