Weekend Stock Market Outlook
Stock Market Outlook For The Week of
March 31st = Uptrend
ADX Directional Indicators: Uptrend
Price & Volume Action: Mixed
Objective Elliott Wave Analysis: Uptrend
No signal changes this week; markets hit a small rough patch but the uptrend remains.
In the weekly view, the S&P's 10 & 40 week moving crossed over (bullish), but didn't do much to confirm anything from a trendline perspective.
2019-03-31 - SPX Trendline Analysis - Weekly
Switching to a daily view, the S&P500 ($SPX) starts the week just above the resistance trendline going back to Q4 of last year (bullish), the 50 & 200 day moving averages are about to cross (bullish), and prices were unable to recover the recent uptrend from late December (bearish).
2019-03-31 - SPX Trendline Analysis - Daily
The DI+ / DI- remains in bullish territory. Price/volume weakened from uptrend to mixed, as the high-volume gains we were looking for didn't materialize. Instead, the S&P picked up 3 more distribution days...a clear sign of institutional selling. Price is still above the 50-day moving average.
The DI+ / DI- remains in bullish/uptrend territory. Price/volume weakened a bit, thanks to another distribution day, so the signal remains mixed. And the OEW group continues with their uptrend call, with 2 weeks of weak price action behind us.
Undoubtedly, you've read a lot about the correlation between yield curve inversion and recession. Head over to The Fat Pitch blog to read a bit about the historical correlation between the price moves seen during Q1 and market performance over the rest of the year. Neither datasets are fool proof, but it pays to evaluate your process in light of both.
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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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