Weekend Stock Market Outlook


Stock Market Outlook For The Week of
May 22nd = Downtrend

MOVING AVERAGES

Short-term (20 DMA): Downtrend
All the major stock market averages remained below their 20-day moving averages.

Intermediate (50 DMA): Downtrend
All the major stock market averages remained belowtheir 50-day moving averages.

Long-term (200 DMA): Mixed
3 of the 5 major stock market averages remained above their 200-day moving averages.

2016-05-22 - US Stock Market Averages

2016-05-22 - US Stock Market Averages

COMMENTARY

No change in the market outlook based on last week's trading action. Friday's option expiration gave the expected boost to prices, but volume was a bit subdued.

Price/volume action still shows a lot of high volume selling. Per OEW, we could a small rally before prices head farther south.



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

Moving Average Signals:

Uptrend = Market indexes remained above their moving average during the trading week

Downtrend = Market indexes remained below their moving average during the trading week

Buy signal = Market indexes rose above their moving averages during the trading week

Sell signal = Market indexes fell below their moving averages during the trading week



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