Weekend Stock Market Outlook

Stock Market Outlook For The Week of
July 31st= Uptrend

MOVING AVERAGES

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

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

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

2016-07-31 - US Stock Market Averages

COMMENTARY

Another unimpressive for the US stock markets (which is a good thing), marking two weeks of fairly flat, tight price action. Right now, it looks like traders and investors are on vacation, as prices have remained in a narrow range since mid-July.

All indexes remain well above their 50-day moving averages, while the 20-day inches closer.

Price/volume action remains constructive; even though many high-growth companies are extended from their ideal buy points (technical chart patterns), the stocks have held on to their price gains.

OEW analysis continues to indicate higher prices in the near term (Weekend Update).

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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.

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