The Safe Investing Blog

Market Outlook for the Week of August 17th = Uptrend in search of support

Short-term (20 DMA):
Last week, all major averages closed above their 20-day moving averages, with the exception of the Dow Jones Industrial’s (DJIA) which closed 10 points below that level.

Intermediate (50 DMA):
The stocks in the NASD led the way, as it reclaimed the 50 DMA last week.  The rest of the averages are still working back to that level.  Tony’s Objective Elliott Wave analysis again yielded some positive news, as the relative strength (RSI) usually reaches an overbought level in an uptrend such as this, and that hasn’t happened yet.  So signs are pointing towards a continued uptrend next week.  Last Wednesday, William O’Neil’s Big Picture analysis switched from a “market correction” to a “confirmed uptrend”.

Long-term (200 DMA):
The current bull market [March 2009 – Present] continues.  Four major indices (NYSE, S&P500, NASDAQ, DJIA) remain above their 200 day moving averages.  The DJIA found support at this level last week and headed higher.

Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro

US Market Averages

Market Outlook for the Week of August 10th = Downtrend in search of support

Short-term (20 DMA):
All major averages remain below their 20-day moving averages.

Intermediate (50 DMA):
All the major averages remained below their 50-day moving averages.  Tony’s Objective Elliott Wave analysis yielded some positive news, as the market averages found some support on Friday.  Last week, William O’Neil’s analysis switched from an “uptrend under pressure” to a “market correction”.

Long-term (200 DMA):
The current bull market [March 2009 – Present] continues.  The three major indices (NYSE, S&P500, and NASDAQ) remain well above their 200 day moving averages, while the DJIA tests it.

Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro

US Stock Market Index Charts – http://www.stockcharts.com

Market Outlook for the Week of August 3rd = Downtrend underway, in search of support

Short-term (20 DMA):
All major averages failed to find support at their 20-day moving averages.

Intermediate (50 DMA):
All the major averages ended the week below their 50-day moving averages.  Tony’s Objective Elliott Wave analysis confirmed a downtrend.  IBD indicates an uptrend under pressure, rather than a market correction.

Long-term (200 DMA):
The current bull market [March 2009 – Present] continues.

Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro

US Stock Market Indexes

Market Outlook for the Week of July 27th = Searching for Direction

Short-term (20 DMA):
The major averages continue to test their 20-day moving averages. The uptrend is still under selling pressure.

Intermediate (50 DMA):
Although the 3 major averages remained above their 50-day moving averages, the Russell 2000 continued lower; not a good sign for small caps.  Elliott Wave analysis did not confirm a downtrend last week, so the search for direction continues.

Long-term (200 DMA):
The current bull market [March 2009 – Present] continues per Elliott Wave.

Elliott Wave Analysis from Elliott Wave Update by Tony Caldaro

Stock Market Charts