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 AveragesCOMMENTARY
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).
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