Stock Market Outlook For The Week of
October 22nd = Uptrend
20/50 Day Moving Averages: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend
No change in signals to start this week. U.S. markets continue to grind higher. Volatility spiked on Thursday, but otherwise another boring week, market-wise.
All the indexes remain above their 20 and 50 day moving averages.
2017-10-22-US Stock Market Averages
Price and volume action is still positive, but there aren't many new set-ups. The early September break-outs (even with their low trading volumes) are going strong. Even the less than ideal set-ups are working...although they are also more likely to give back those gains going forward (e.g. CELG).
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.