Stock Market Outlook entering the Week of November 3rd = Uptrend
- ADX Directional Indicators: Uptrend
- Price & Volume Action: Mixed
- Objective Elliott Wave Analysis: Uptrend
The stock market outlook continues to show an uptrend.
The ADX and OEW remain bullish. Price and volume is still mixed, but a handful of distribution days will fall off this count this week, so you could be forgiven for thinking this signal shows an uptrend at this point.
Q3 earnings season is mixed, October’s jobs report came in better than expected, and the ISM manufacturing index showed contraction again. And the U.S. Fed lowered rates by 0.25% last week.
More commentary after the jump…Stock Market Outlook – Week of November 03 2019