Weekend Stock Market Outlook

Stock Market Outlook For The Week of
February 19th = Uptrend

INDICATORS

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

COMMENTARY

US stock markets moved higher last week, although trading volume was a bit on the low side. US markets are closed on Monday.

All the indexes remain above their respective 20 and 50 day moving averages.  For reference, from the low on Nov 4th, the S&P has rallied a little more than 11%, and sits about 3% above its 50-day moving average.

2017-02-19-US Stock Market Averages

2017-02-19-US Stock Market Averages

Price and volume action continues on the positive side, with leading stocks (i.e. those with strong fundamentals) continuing to break out of bases and rally higher.  Distribution days remain in check.

OEW continues to signal an uptrend, with last week's price action eliminating the bearish scenarios that were being tracked.


If you find this research helpful, please tell a friend. I share articles and other news of interest via Twitter; you can follow me @investsafely. The weekly market outlook is also posted on Facebook and Linkedin.

You can check out how well (or poorly) the outlook is tracking the marketing using past performance estimates:

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




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