Weekend Stock Market Outlook

Stock Market Outlook For The Week of
February 21st = Mixed

MOVING AVERAGES

Short-term (20 DMA): Buy Signal
All the major stock market averages rose abovetheir 20-day moving averages.

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

Long-term (200 DMA): Downtrend
All the major stock market averages remained below their 200-day moving averages.

2016-02-21 - US Stock Market Averages

COMMENTARY

Some time off was just what the U.S. markets needed, as the holiday shortened week saw prices rally above their 20-day moving averages (our first clear buy signal of 2016). Even better, the new uptrend was confirmed midweek by price and volume action. OEW has yet to confirm, but an uptrend is highly likely. That said, we're still well below the 50 and 200 day moving averages.

The market outlook "Mixed", reflecting the improved short-term conditions.

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For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.Charts 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