Weekend Stock Market Outlook

Stock Market Outlook entering the Week of July 31st = 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
Another unimpressive for the US stock markets (which is a good thing), marking two weeks of fairly flat, tight price action.  Right now, it looks like traders and investors are on vacation, as prices have remained in a narrow range since mid-July.

All indexes remain well above their 50-day moving averages, while the 20-day inches closer.

Price/volume action remains constructive; even though many high-growth companies are extended from their ideal buy points (technical chart patterns), the stocks have held on to their price gains.

OEW analysis continues to indicate higher prices in the near term (Weekend Update).

US Stock Market Averages

2016-07-31 – 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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