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. Celgene - $CELG).
You can check out how well (or poorly) the outlook has tracked the market using past performance estimates: