Weekend Stock Market Outlook

Stock Market Outlook For The Week of
May 7th = Uptrend

INDICATORS

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

COMMENTARY

Will results from the French run-off prime the US markets for more gains? Or was Friday's late day rally all we're going to get?

To kick of the week, all the stock indexes remain above their key levels.

$INDU,$NYA,$SPX,$USD,$COMPQ,$CRB,$RUT,$GOLD

2017-05-07-US Stock Market Averages

Price/volume remains in an uptrend.  Friday's upside move was only tarnished by a lack of volume.  But given the election taking place in France, that isn't too surprising or concerning.

OEW is back in uptrend mode.

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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.