Weekend Stock Market Outlook

Stock Market Outlook For The Week of
July 9th= Uptrend

INDICATORS

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

COMMENTARY

The holiday shortened week wasn't without its own fireworks, as volatility returned to the US markets in a major way.  Proceed with caution; the only thing keeping the market outlook in "uptrend" territory is price verses the 50 day moving average.  Had the trading week ended on Thursday, the outlook for this week would have changed to a downtrend!

The Nasdaq continues to lead markets lower from a moving average standpoint.  Of more concern is fact that the S&P 500 and Russell 2000 also fell to their respective 50 day moving averages last Thursday.  Friday's recovery postponed a change to a downtrend, putting the signal at mixed.

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

2017-07-09-US Stock Market Averages

The price/volume viewpoint is the same as last week, with price action supporting an uptrend, while volume action supporting a downtrend.  Friday's rally came with reduced trading volume, which is the opposite of what you want to see when prices bounce off the 50-day.

OEW finally gave us a downtrend confirmation for all but the Dow, with the expectation that the Dow (being the leading index) will likely provide confirmation when the downtrend is almost complete.


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 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.




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