Weekend Stock Market Outlook

Stock Market Outlook entering the Week of November 27th = Uptrend 

  • 20/50/200 Day Moving Averages: Uptrend
  • Price & Volume Action: Uptrend
  • Objective Elliott Wave Analysis: Uptrend

US stocks winning ways continued last week, in spite of a holiday shortened week.  I’m still expecting a pullback at some point, but that should represent a good opportunity to add shares.

All the major indexes remain above their respective 20/50/200 day moving averages.

2016-11-27 - US Stock Market Averages

2016-11-27 – US Stock Market Averages

As previously discussed, several distributions days fell off the count as they are no longer in the 20-day window. The count now stands at 1, 2, 4, and 5 for the NYSE, S&P500, Dow Jones Industrials, and Nasdaq, respectively.

OEW’s medium term uptrend is expected to remain in place until January.

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Charts provided courtesy of stockcharts.com.

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