Stock Market Outlook entering the Week of July 7th = Uptrend
- ADX Directional Indicators: Uptrend
- Price & Volume Action: Uptrend
- Objective Elliott Wave Analysis: Uptrend
Low volumes and a shortened trading week left market signals unchanged. The OEW blog expects another 10% gain before the current uptrend ends, but sees increasing probability of a “sizeable” decline first.
2019-07-07 – SPX Trendline Analysis – Daily
In the daily chart, the S&P 500 ($SPX) broke through all time highs.
2019-07-07 – SPX Trendline Analysis – Weekly
The weekly view also shows the uptrend in command.
All eyes are on the Fed now, as investors await the July meeting / rate cut decision.
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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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