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 AveragesCOMMENTARY
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.
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