Weekend Stock Market Outlook

Stock Market Outlook entering the Week of August 14th = 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
Last week was fairly quiet, with the US stock market taking a break and moving sideways; The S&P 500 was up less than 0.1% for the week.

All indexes remain above their moving averages.

Price/volume action remains constructive, although the market did see stalling action on Tuesday last week (another form of distribution).  Leading stocks are maintaining their gains, but are also extended from proper buy points.

OEW analysis continues to signal an uptrend (Weekend Update).

2016-08-14 - US Stock Market Averages

2016-08-14 – 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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