Weekend Stock Market Outlook - April 19 2020

The stock market outlook remains in an uptrend to start the week. The ADX and price/volume signals are bullish, while Elliott Wave is still bearish.

The S&P500 sits just above the 50-day moving average, and the current rally only has two distribution days. But take note of the negative divergence between the relative strength (RSI) and price over the past few days. Price targets for ending the current rally / c-wave are still in play: 2897, 2919, and 3175.

More commentary after the jump...Stock Market Outlook - Week of April 19 2020