Stock Market Outlook entering the Week of July 10th = 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): Uptrend
All the major stock market averages remained above their 200-day moving averages.
COMMENTARY
Investors and traders remained festive during the shortened 4th of July trading week, even if trading volumes were below average.
All the major indexes remain above their moving averages, and price/volume action remains positive. With Friday’s push to all time highs, OEW says the US markets passed a key resistance level and now have room to run higher.
It looks like you can let those gains ride a bit longer!
2016-07-10 – 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
