Sunday, June 25, 2017

Weekend Stock Market Outlook

Stock Market Outlook For The Week of
June 25th= Uptrend

INDICATORS

20/50 Day Moving Averages: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend

COMMENTARY

Another rotation last week, as the Dow Jones took a break and the Nasdaq recovered slightly, thanks in part to biotechs. Will there be a different winning sector this week?

With the Nasdaq's stronger showing last week, all the indexes start this week above key support levels (20 and 50 day moving averages), so no change in signal. $INDU,$NYA,$SPX,$USD,$COMPQ,$CRB,$RUT,$GOLD

2017-06-25-US Stock Market Averages

Price/volume action continues to support an uptrend, though distribution days remain elevated.

No change in midterm OEW signals; the uptrend stays in place, but may have topped.

Best of luck this week. Last Sunday, I mentioned some of my newer holdings had retreated to buy points. During the week, those positions hit sell triggers (so I'm out), and my weekly scan shows that stocks with the best fundamentals are at profit taking levels (+20%) or are extended from proper technical buy points and bases.


If you find this research helpful, please tell a friend. I share articles and other news of interest via Twitter; you can follow me @investsafely. The weekly market outlook is also posted on Facebook and Linkedin.

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.


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Sunday, June 18, 2017

Weekend Stock Market Outlook

Stock Market Outlook For The Week of
June 18th= Uptrend

INDICATORS

20/50 Day Moving Averages: Uptrend
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Uptrend

COMMENTARY

As expected, the U.S. Federal Reserve raised short-term interest rates. Sector rotation continues, as the Dow Jones hit new price highs and the Nasdaq fell below short-term support levels. The uptrend remains in place, but there are some warning signs.

The Dow Jones Industrials, S&P500, NYSE, and Russell 2000 start the week above key support levels (20 and 50 day moving averages). The Nasdaq had another poor showing last week, and begins this week below its 20 day moving average. $INDU,$NYA,$SPX,$USD,$COMPQ,$CRB,$RUT,$GOLD

2017-06-18-US Stock Market Averages

The overall distribution count can now be considered elevated, with most of the indexes above 5 (the S&P500 is at 6). Further high volume selling will confirm a new downtrend.

OEW is signaling that the uptrend may have topped with a minor correction to follow.

Caution remains the order of the day. Most of my recent trades have returned to their buy points, indicating a weak environment for growth stocks.


If you find this research helpful, please tell a friend. I share articles and other news of interest via Twitter; you can follow me @investsafely. The weekly market outlook is also posted on Facebook and Linkedin.

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.


Return from Stock Market Outlook 2017-06-18 to Tracking the Stock Market

Return to Invest-Safely.com