Weekend Stock Market Outlook
Stock Market Outlook For The Week of
November 24th = Uptrend
ADX Directional Indicators: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend
The stock market outlook uptrend continues, with corresponding signals from ADX, price/volume and OEW
2019-11-24 - SPX Trendline Analysis - Daily
In the daily view, the S&P500 ($SPX) experienced the sideways trading action mentioned last week. The index even picked up some distribution for good measure, but without a huge price decline. Either way, the expectations from last week remains in place:
"Price still looks extended from support; expect prices to stay around the 3100 level this week, with ~3075 acting as the gatekeeper for a bigger decline."
2019-11-24 - SPX Trendline Analysis - Weekly
I'm still expecting an uptrend/rally to close out 2019, especially if there's progress between the U.S and China on trade. That said, the $VIX has spent most of November between 12 and 14, so it feels like one of those "it's quiet...too quiet" situations. We all know we're just a tweet away from a sell-off.
But that's a huge reason to use an investing process: to remove those emotions from decision making!
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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