The Safe Investing Blog

Stock Market Outlook entering the Week of January 1st = Uptrend 

• 20/50/200 Day Moving Averages: Uptrend
• Price & Volume Action: Uptrend
• Objective Elliott Wave Analysis: Uptrend

COMMENTARY
Happy New Year! Low volume trading continued during the holiday shortened trading week, making it a bit difficult to sort out where the market is headed as we kick off 2017.  Was the uptick in distribution days (mentioned below) just an artifact of junior traders manning the trading desks, or the start of something more substantial?  We’ll have to wait and see.

The Dow Jones Industrials was the only average able to end the holiday shortened week above its 20 day moving average (just barely), while the other 4 closed below that level.  On the plus side, all the indexes remain above their respective 50 and 200 day moving averages.

2017-01-01 – US Stock Market Averages

The indexes ran into 2 distribution days last week, but overall trading volumes were below average.  The counts are currently 4 for the NASDAQ, 5 for the Dow Jones Industrials, and 6 for the S&P500 and NYSE.  Wednesday and Friday  trading sessions also had relatively large spreads (verses the recent average), and prices closed low in the range.  Again, it’s hard to draw conclusions given that trading volume was well below average, but something to keep an eye on going into the new year.

OEW continues to signal an uptrend, but is seeing enough signs of weakness to begin mentioning a possible correction during the next few weeks.

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For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Charts provided courtesy of stockcharts.com.

Stock Market Outlook entering the Week of December 25th = Uptrend 

Happy Holidays! US markets continued treading water last week, with no major moves as trading volume dried up ahead of the holidays.

More after the jump…Stock Market Outlook – Week of December 25th

Stock Market Outlook entering the Week of December 18th = Uptrend 

US stocks took a breather last week with some sideways price action. Considering how quickly the markets have advanced since the US election, a brief pause is a good thing; it sets up future advances.

More after the jump…Stock Market Outlook – Week of December 18th

Stock Market Outlook entering the Week of December 11th = Uptrend 

• 20/50/200 Day Moving Averages: Uptrend
• Price & Volume Action: Uptrend
• Objective Elliott Wave Analysis: Uptrend

COMMENTARY
US stocks returned to their winning ways, as all the major indexes posted impressive gains.

The Nasdaq recovered nicely, rejoining all the other major indexes above their respective 20/50/200 day moving averages.

2016-12-11 – US Stock Market Averages

So much for that topping action mentioned in last week’s update.  Wednesday’s price volume action tabled that discussion.  All the indexes went on to lose a distribution day last week.  The NASDAQ remains elevated, which is expected given all the selling in major technology names recently.  (Nasdaq = 4, NYSE = 1, S&P500 = 3, and the Dow = 2).

OEW remains in an uptrend and continues to expect it to last into January.

For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.  Charts provided courtesy of stockcharts.com.

Stock Market Outlook entering the Week of December 4th = Uptrend 

As expected, US stocks ran into resistance last week. The S&P 500 fell 1%, the Nasdaq lost 2.7%, the NYSE fell 0.1%, and the Russell 2000 lost 2.4%. The Dow managed to squeeze out a gain of 0.1%.

More after the jump…Stock Market Outlook – Week of December 4th

Stock Market Outlook entering the Week of November 27th = Uptrend 

US stocks winning ways continued last week, in spite of a holiday shortened week. I’m still expecting a pullback at some point, but that should represent a good opportunity to add shares.

More after the jump…Stock Market Outlook – Week of November 27th

Stock Market Outlook entering the Week of November 20th = Uptrend 

The Nasdaq joined the other major indexes above their respective 20/50/200 day moving averages. Given how quickly market prices rose over the past two weeks, some sideways action (consolidation) is likely in the short term.

More after the jump…Stock Market Outlook – Week of November 20th