Weekend Stock Market Outlook

Stock Market Outlook entering the Week of October 22nd = Uptrend

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

No change in signals to start this week.  U.S. markets continue to grind higher.  Volatility spiked on Thursday, but otherwise another boring week, market-wise.

The indexes remain above their 20 and 50 day moving averages.

Price Action for $INDU,$NYA,$SPX,$USD,$COMPQ,$CRB,$RUT,$GOLD

2017-10-22 – US Stock Market Averages

Price and volume action is still positive, but there aren’t many new set-ups.  The early September break-outs (even with their low trading volumes) are going strong.  Even the less than ideal set-ups are working…although they are also more likely to give back those gains going forward (e.g. Celgene – $CELG).

OEW remains in a uptrend.

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:

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.

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