Stock Market Outlook For The Week of
November 27th = Uptrend
20/50/200 Day Moving Averages: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend
US stocks winning ways continued last week, in spite of a holiday shortened week. I'm still expecting a pullback at some point, but that should represent a good opportunity to add shares.
All the major indexes remain above their respective 20/50/200 day moving averages.
2016-11-27-US Stock Market AveragesAs previously discussed, several distributions days fell off the count as they are no longer in the 20-day window. The count now stands at 1, 2, 4, and 5 for the NYSE, S&P500, Dow Jones Industrial, and Nasdaq, respectively.
OEW's medium term uptrend is expected to remain in place until January.