Stock Market Outlook entering the Week of May 14th = Uptrend
- 20/50 Day Moving Averages: Uptrend
- Price & Volume Action: Uptrend
- Objective Elliott Wave Analysis: Uptrend
The U.S. markets did not get a Macron bump courtesy of the French election. Retail had the worst week by far, while cybersecurity firms rallied in response to the WannaCry attack. Now investors will need to look for some other catalyst.
Stock indexes remain above most moving averages; the lone exception being the Russell 2000 closing below the 20-day.
Price/volume remains in an uptrend, as does OEW.
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You can check out how well (or poorly) the outlook has tracked the market using past performance estimates: