Stock Market Outlook entering the Week of September 17th = Uptrend
- 20/50 Day Moving Averages: Uptrend
- Price & Volume Action: Uptrend
- Objective Elliott Wave Analysis: Uptrend
One small change in the signal set as all 3 start this week in an uptrend. It looks like neither hurricanes nor North Korea can stop this bull. Eventually, something will wear it out. But until then, it’s rally on.
All the indexes start the week above their 20 and 50 day moving averages.
New price highs combined with higher trading volume to give us a welcome signal last week in the form of accumulation. And that puts the markets in a strong position to start this week. Most leading stocks are still extended from proper buy points, so be on the lookout for new leadership to emerge (maybe cyclicals).
OEW confirmed an uptrend last week as the markets broke to new highs.
If you find this research helpful, please tell a friend. I share articles and other news of interest via Twitter; you can follow me @investsafely. The weekly market outlook is also posted on Facebook and Linkedin.
You can check out how well (or poorly) the outlook has tracked the market using past performance estimates: