Weekend Stock Market Outlook

Stock Market Outlook For The Week of
November 6th = Downtrend

INDICATORS

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

COMMENTARY

Another down week for the US stock markets.

Performance to the moving averages continued weakening. All the indexes remain below their 20 and 50 day moving averages. The SP500 closed just 2 points above its 200 day moving average, and the NYSE fell below that level.

Even more heavy volume selling last week, so we're still waiting for signs relief.

OEW's medium term outlook remains a downtrend.

As mentioned last week, check your holdings, tighten your stop orders to recent support levels, and take some profits if you’ve hit your targets. When the markets find support, you can evaluate new positions.


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