Stock Market Outlook entering the Week of January 26th = Uptrend
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- ADX Directional Indicators: Uptrend
- Price & Volume Action: Uptrend
- Objective Elliott Wave Analysis: Uptrend
COMMENTARY
An uptrend remains in place for the stock market outlook this week, but the signals do indicate that trend has weakened a bit.
Chart-wise, the S&P continues to plod along within the price channel we’ve been following, but remains extended from moving averages (3% above the 50-day, and ~10% above the 200-day).
Per Factset, about 30% of the S&P 500 will report earnings this week. Hopefully you get an Intel (INTC), and not a Discover Financial (DFS)!
Charts and more commentary after the jump…Stock Market Outlook – Week of Week of January 26 2020
