Weekend Stock Market Outlook

Stock Market Outlook entering the Week of April 28th  = Uptrend

  • ADX Directional Indicators: Uptrend
  • Price & Volume Action: Uptrend
  • Objective Elliott Wave Analysis: Uptrend

COMMENTARY
No change in the signals as we start the week, and the SPX kicks things off at all time highs!  The ADX shows a strong bullish trend in place.  Several distribution days fell off the count for the Price & Volume signal.  And although there hasn’t been an OEW post in a while, that’s because nothing has changed in their medium-term counts.

A weekly view of the S&P shows prices start the week at all time highs.  We’re just shy of recovering the 2019 Q1 trendline.

SPX trendlines for weekly prices

2019-04-28 – SPX Trendline Analysis – Weekly

In the daily view, the S&P 500 ($SPX) found support within the uptrend channel, and prices also sit at all time highs.  The V-shaped recovery was impressive.

I did not expect prices to recover so quickly.  Others will be quick to point out the potential causes, but for me, all that matters is that the trading process and signals were on the right side of the trend…regardless of whether or not I thought I was “right” about what caused the rally.

Trendlines for daily SPX prices

2019-04-28 – SPX Trendline Analysis – Daily

When markets are in a solid uptrend, week after week, it’s easy to become complacent.  As we saw last year, prices can head south quickly.  With month end coming up, it’s a good time to review our statements and check your asset allocation.  Make sure your holdings haven’t strayed too far from your target.


If you find this research helpful, please forward to 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.

Charts provided courtesy of stockcharts.com.

If you’re interested in learning more about the relationship between price and volume, or how to find and trade the best stocks for your growth strategy, check out this book on Amazon via the following affiliate link: How to Make Money in Stocks: A Winning System in Good Times and Bad.  It’s one of my favorites.

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.


Once a year, I review the market outlook signals as if they were a mechanical trading system, while pointing out issues and making adjustments.  The goal is to give you to give you an example of how to analyze and continuously improve your own systems.


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