Weekend Stock Market Outlook

Stock Market Outlook entering the Week of February 5th = Uptrend 

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

US markets had a hard time getting going last week, but found their footing on Friday as the Trump administration started dismantling Dodd-Frank.

All the indexes closed the week above their respective 20 and 50 day moving averages.

2017-02-05 - US Stock Market Averages

2017-02-05 – US Stock Market Averages

Price and volume action remains positive; leading stocks continue to advance without major sell-offs.  The number number of distribution days experienced by the general market is neither high nor low.

OEW continues to signal an uptrend.

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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