Stock Market Outlook entering the Week of March 6th = Uptrend
MOVING AVERAGES
- Short-term (20 DMA): Uptrend
All the major stock market averages remained above their 20-day moving averages.
- Intermediate (50 DMA): Uptrend
All the major stock market averages rose or remained 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
The US stock markets moved higher, extending their winning streak to 3 weeks. Price/volume action remained strong, and even OEW finally confirmed the uptrend. In bear markets, after this type of agreement is usually when the bottom falls out, so book those profits if you’ve got them!
2016-03-06 – 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
