Stock Market Outlook entering the Week of April 17th = Uptrend
- Short-term (20 DMA): Uptrend
All the major stock market averages rose or 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): Uptrend
4 of the 5 major stock market averages rose or remained above their 200-day moving averages.
The U.S. markets regrouped last week, finding technical support at their 20 and 200-day moving averages.
Price/volume action last week was positive with up days having higher volume than down days. Overall trading volume continues to run low, and even “leading” stocks aren’t seeing above-average volumes during this advance. OEW shows that the S&P500 is back into the trading ranges from 2015 Q4.
Continue to watch for weakness in your holdings (high-volume selling, etc.) and prune as necessary.
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