Weekend Stock Market Outlook

Stock Market Outlook entering the Week of December 10th = Uptrend

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

The weekly outlook is back after a one week hiatus.  A thank you to all my readers for their well wishes.  We ran into some selling pressure while I was away, but nothing that derailed the current rally.

All the market indexes start the week above their 20 and 50 day moving averages.

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

2017-12-10 – US Stock Market Averages

Price and volume action hasn’t changed much in the past month or so. Distribution days come and go from the count, which remains slightly elevated.  Many leading stocks are still extended, but last weeks selling did knock some back into base building mode.

OEW uptrend signals remain in place as of Thursday’s close, although there are signs the recent rally has topped.  Tony is facing some health issues of his own, so OEW has been offline since Thursday.

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.

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