Stock Market Outlook entering the Week of February 9th = Downtrend
- ADX Directional Indicators: Uptrend
- Price & Volume Action: Mixed
- Objective Elliott Wave Analysis: Downtrend
The stock market outlook remains in a downtrend this week because we don’t have confirmation from two signals yet. The ADX directional indicators flipped back to an uptrend. The price and volume indicator remains mixed due to elevated distribution days. OEW appears to show a subdividing downtrend, so that remains negative for now. If price passes 3350 or finds support at 3300, I expect this signal to switch.
More commentary after the jump…Stock Market Outlook – Week of Week of February 09 2020