Weekend Stock Market Outlook

Stock Market Outlook entering the Week of April 17th  = Uptrend

MOVING AVERAGES

  • 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.

COMMENTARY
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.

2016-04-17 - US Stock Market Averages

2016-04-17 – US Stock Market Averages

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Price/volume charts are provided courtesy of 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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