Weekend Stock Market Outlook

Stock Market Outlook For The Week of
October 16th = Mixed

INDICATORS

20/50/200 Day Moving Averages: Mixed
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend

COMMENTARY

A wild week didn't help the market outlook, as market prices closed below key support levels (i.e. moving averages). But could there be some positive news on the horizon? OEW seems to think so...

Performance to moving averages continued to weaken last week. All the indexes closed below their 20 and 50 day moving averages. They all remain extended from their respective 200 day moving averages, so a change in outlook will still take some time.

2016-10-16-US Stock Market Averages

2016-10-16-US Stock Market Averages

No change based on last week's price and volume performance; uptrend remains in place but institutional selling remains on the high side. Counts on the S&P, NYSE, Nasdaq, and Dow Jones Industrials are unchanged (5,5,4,7 respectively).

OEW indicates the intermediate downtrend may have ended on Friday. That said, the sideways price action over the past two months could act as resistance, which would create some pretty choppy trading action over the new few weeks.


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

Search the Site

Popular Pages

  • Capital Preservation
  • Compound Interest Magic
  • The 3 Causes of Inflation
  • Different Ways of Investing
  • The 10 Principles of Safe Investing
  • Investing in Palladium


  • Invest Safely - Valuable, time-saving info about personal finance, money management, and investing.

    Blogroll

  • Advisor Perspectives
  • Divdend Growth Investor
  • Elliott Wave Lives On
  • On My Radar | CMG Wealth
  • The Big Picture
  • The Fat Pitch
  • Thoughts from the Frontline
  • Trader Feed
  • Sponsored Links