Stock Market Outlook entering the Week of December 31st = Uptrend
- 20/50 Day Moving Averages: Uptrend
- Price & Volume Action: Uptrend
- Objective Elliott Wave Analysis: n/a
We’ll kick off 2018 with a uptrend in the U.S. markets, as they are closed Monday for New Year’s Day. Just like last week, trading resumes on Tuesday, January 2nd.
All the market indexes remain above their 20 and 50 day moving averages to start 2018.
No change in the price and volume action to begin 2018. I’m looking forward to January and February, now that some leading stocks are mid-way through base building activities.
We’re still waiting for Tony and OEW to get back in the swing of things, so it may be a few more weeks before that signal comes back on line.
Now that 2017 trading is over, it’s a great time to review your trades and make adjustments for 2018. I’ll be doing the same for the weekly market outlook, so keep an eye out for the 2017 performance review.
Happy New Year to your and yours; here’s to a profitable 2018!
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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.