Stock Market Outlook entering the Week of March 13th = 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 remained above their 50-day moving averages.
- Long-term (200 DMA): Mixed
3 of the 5 major stock market averages remained below their 200-day moving averages.
COMMENTARY
A choppy week, but a very strong Friday session powered the rally forward. Is this the start of something new, or just massive short covering?
It really doesn’t matter. What matters is that you’re making money either way, and keeping any losses small. If you’ve been pruning positions based on strength, most of the stocks that are left in your portfolio are probably sitting on some really nice gains.
2016-03-13 – 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
