Stock Market Outlook For The Week of
March 19th = Uptrend
20/50 Day Moving Averages: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend
US markets rebounded last week, rallying on the 0.25% rate hike. All the indexes are back above their 20 and 50 day moving averages.
2017-03-19-US Stock Market Averages
Price and volume action remains positive; as mentioned last week, leading stocks continue to move sideways. On the plus side, few are selling off on high volume, suggesting the rally still has some steam.
OEW uptrend signal also remains in place. as we still need "higher highs" before the next correction. Tony also reviews the "four-year Presidential cycle" as a method for forecasting major market lows. As far as indicators go, it actually has a pretty good track record.
You can check out how well (or poorly) the outlook has tracked the market 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.