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.

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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.

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