Stock Market Outlook entering the Week of May 7th = Uptrend
- 20/50 Day Moving Averages: Uptrend
- Price & Volume Action: Uptrend
- Objective Elliott Wave Analysis: Uptrend
Will results from the French run-off prime the US markets for more gains? Or was Friday’s late day rally all we’re going to get?
To kick of the week, all the stock indexes remain above their key levels.
Price/volume remains in an uptrend. Friday’s upside move was only tarnished by a lack of volume. But given the election taking place in France, that isn’t too surprising or concerning.
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You can check out how well (or poorly) the outlook has tracked the market using past performance estimates: