Weekend Stock Market Outlook
Stock Market Outlook For The Week of
March 3rd = Uptrend
ADX Directional Indicators: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Best to Your Week
The uptrend continues; no change in the ADX or price / volume.
In the weekly view, S&P prices closed close to the weekly high point, again, so we're still searching for a weekly "low" to use for drawing the new uptrend.
2019-03-03 - SPX Trendline Analysis - Weekly
Switching to a daily view, the S&P500 ($SPX) spent most of last week flirting with the 2,800 resistance level. The chart below reflects an updated the potential uptrend, based on the most recent "low". If price are able to climb past their current levels, we could see a run at the all time highs.
2019-03-03 - SPX Trendline Analysis - Daily
The DI+ / DI- continues to show a bullish environment. No change in price/volume, although we did pick up a distribution day last week.
The major stock indexes continue to grind higher, while volatility declines.
2019-03-03 - US Stock Market Averages
Best to your week
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Charts provided courtesy of stockcharts.com.
If you're interested in learning more about the relationship between price and volume, or how to find and trade the best stocks for your growth strategy, check out this book on Amazon via the following affiliate link: How to Make Money in Stocks: A Winning System in Good Times and Bad. It's one of my favorites.
For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro.
Once a year, I review the market outlook signals as if they were a mechanical trading system, while pointing out issues and making adjustments. The goal is to give you to give you an example of how to analyze and continuously improve your own systems.
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