Weekend Stock Market Outlook

Stock Market Outlook entering the Week of December 11th = Uptrend 

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

US stocks returned to their winning ways, as all the major indexes posted impressive gains.

The Nasdaq recovered nicely, rejoining all the other major indexes above their respective 20/50/200 day moving averages.

2016-12-11 - US Stock Market Averages

2016-12-11 – US Stock Market Averages

So much for that topping action mentioned in last week’s update.  Wednesday’s price volume action tabled that discussion.  All the indexes went on to lose a distribution day last week.  The NASDAQ remains elevated, which is expected given all the selling in major technology names recently.  (Nasdaq = 4, NYSE = 1, S&P500 = 3, and the Dow = 2).

OEW remains in an uptrend and continues to expect it to last into January.

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

This entry was posted in Historical Data, Market Trends, Other Blogs and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.