Weekend Stock Market Outlook

Stock Market Outlook entering the Week of September 2nd = Uptrend

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

Short and sweet this week; no change in the signals to start September, and a 4 day trading week as the U.S. markets are closed Monday for the long Labor Day weekend.

All the indexes remain above their 20/50 day moving averages.

Price charts for $SPX,$COMPQ,$INDU,$NYA,$RUT,$VIX,$TNX,$USD,$CRB,$GOLD

2018-09-02 – US Stock Market Averages

Price and volume also continue to signal an uptrend, as does OEW.

The S&P ($SPX) gapped up Monday morning, giving us the higher move we were hoping for last week.  The index peaked on Wednesday, which happened to coincide with the upper trendline of the channel we’re following, so naturally prices retreated.  And even though the reading is still below 20, the ADX saw a pretty big bullish shift.

2018-09-02 - SPX Technical Analysis - Daily

2018-09-02 – SPX Technical Analysis – Daily

If I had to guess, I’d say we’re in for a slight decline this week, and then a run higher in two weeks that coincides with higher trading volume.

2018-09-02- SPX Technical Analysis - Weekly

2018-09-02- SPX Technical Analysis – Weekly

Definitely a positive investing environment to kick-off September, but before you go all super-bull remember that anything is possible once trading volume returns.  Participant, protect, and prepare.

If you find this research helpful, please tell a friend. If you don’t find it helpful, tell an enemy. 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 performed as a stand-alone, signal generator 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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