The stock market outlook remains in an uptrend to start off June. The ADX and price/volume are both in an uptrend, and Elliott Wave showing a "downtrend".
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Elliott Wave show the S&P500 remains in a corrective pattern (an expanded flat). If we completed the Minor B last Thursday, the Minor C target is ~2580.
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As our economies reopen, all eyes are on the consumer. The stimulus (aka debt) that we’ve taken on is for survival, not for productive uses....an attempt to fill the gap. We'll have to see how much of that gap we can fill without help from the Fed.
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More commentary after the jump...<a href="https://www.invest-safely.com/stock-market-outlook-2020-05-31.html" rel="noopener" target="_blank">Stock Market Outlook - Week of May 31 2020</a>
Sunday, May 31, 2020
Sunday, May 24, 2020
Weekend Stock Market Outlook - May 24 2020
The stock market outlook flipped to an uptrend last week (Monday) with another change in the ADX signal. Price/volume remained in an uptrend, while the Elliott Wave downtrend remains in place...it's just a REALLY shallow one.
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The directional indicators flipped again, but the overall ADX still shows a VERY weak trend, as it has been for the entire month.
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For Elliott Wave, the S&P500 has been working through an intermediate B wave for all of May. A B-wave is expected to retrace a lot of the A-wave. So far, that hasn't really happened. I've seen three potential counts; odds favor the B-wave is still in place, so this signal is still in a downtrend for now.
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More commentary after the jump...<a href="https://www.invest-safely.com/stock-market-outlook-2020-05-24.html" rel="noopener" target="_blank">Stock Market Outlook - Week of May 24 2020</a>
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The directional indicators flipped again, but the overall ADX still shows a VERY weak trend, as it has been for the entire month.
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For Elliott Wave, the S&P500 has been working through an intermediate B wave for all of May. A B-wave is expected to retrace a lot of the A-wave. So far, that hasn't really happened. I've seen three potential counts; odds favor the B-wave is still in place, so this signal is still in a downtrend for now.
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More commentary after the jump...<a href="https://www.invest-safely.com/stock-market-outlook-2020-05-24.html" rel="noopener" target="_blank">Stock Market Outlook - Week of May 24 2020</a>
Sunday, May 17, 2020
Weekend Stock Market Outlook - May 17 2020
The stock market outlook flipped to a downtrend last week with a change in the ADX signal. Elliott Wave was already in a downtrend, but price/volume is still showing an uptrend in place.
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Weak April retail sales and production data was not surprising, nor was some deflation. Blocking semi-conductor shipments to Huawei was, but only a little.
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Weak April retail sales and production data was not surprising, nor was some deflation. Blocking semi-conductor shipments to Huawei was, but only a little.
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Great stuff from the Strategic Investment Conference last week, hosted by Mauldin Economics, means lots of reading and reflecting this week and next.
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More commentary after the jump...<a href="https://www.invest-safely.com/stock-market-outlook-2020-05-17.html" rel="noopener" target="_blank">Stock Market Outlook - Week of May 17 2020</a>
Sunday, May 10, 2020
Weekend Stock Market Outlook - May 10 2020
The stock market outlook continues into the second week of May in an uptrend. The ADX and price/volume signals show an uptrend, while Elliott Wave indicates a downtrend.
The S&P500 spent last week recovering from the prior week's sell-off. No real change in the ADX or price/volume story, while price is challenging the 61.8% level retracement level again.
The disconnect between Main Street and Wall Street seems to grow each day, with job/income losses in stark contrast with rising stock prices and shareholder value.
Let prices be your guide and respond accordingly.
More commentary after the jump...Stock Market Outlook - Week of May 10 2020
Sunday, May 3, 2020
Weekend Stock Market Outlook - May 03 2020
The stock market outlook starts May in an uptrend. The ADX and price/volume signals are bullish, while Elliott Wave indicates a downtrend.
Earnings season is in full swing, with many big names reporting this week. Expect price volatility and limited forward guidance. The best you can do is look for companies with strong balance sheets and high demand for their products in a "stay at home" economy.
More commentary after the jump...Stock Market Outlook - Week of May 03 2020
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