Weekend Stock Market Outlook - August 30 2020

The stock market outlook remains in an uptrend heading into the week, with bullish trends in place for the ADX, price/volume, and Elliott Wave.

The ADX and price/volume action show a strong bullish trend in place. The "correct" Elliott Wave count isn't clear (to me at least), but at least it hasn't turned bearish yet.

In case you missed it, the Fed held their annual meeting in Jackson Hole, and touched on a pretty major change in the way inflation will be viewed in the years ahead.

Near term, that probably won't change much. Long term, there are pretty big implications for investing and personal finance.

More commentary after the jump... Stock Market Outlook - Week of August 30 2020

Weekend Stock Market Outlook - August 23 2020

No change in the stock market outlook; uptrend with green across the board (ADX, price/volume, or Elliott Wave).

The S&P500 sits at all time highs, but is extended from support (historically speaking) and represents a critical price level of Elliott Wave analysis.

I honestly don’t know which EW count is correct...and most likely no one will until after we see the depth of the next correction.

What we do know is that the current rally has been really kind to tech stocks and other COVID plays. Your allocations may be a little out of whack, so it’s probably a good time to take some profits.

More commentary after the jump... Stock Market Outlook - Week of August 23 2020

Weekend Stock Market Outlook - August 16 2020

Little change in price last week means the stock market outlook shows an uptrend in place this week.

The S&P500 is just shy of an all time high, but we're in a historically "weak" period for market prices, so it wouldn't be surprising to see a pull back over the next 2-3 weeks.

More commentary after the jump... Stock Market Outlook - Week of August 16 2020

Weekend Stock Market Outlook - August 9 2020

Basically a carbon copy of last week’s update; no change in the signals and price action remained bullish,

The Elliott Wave count, if correct, shows a correction should start any day now, since the Minor 5 wave needs to end before it exceeds the February high (3393).

Of course, the count could be wrong, which is why I don’t use just one signal. Downside risk is roughly 6%; that’s how far the S&P500 would need to fall before breaking the 50-day moving average and generating a sell signal in the other indicators.

More commentary after the jump... Stock Market Outlook - Week of August 09 2020

Weekend Stock Market Outlook - August 2 2020

No change in the ADX, price/volume, or Elliott Wave signals, so the stock market outlook maintains an uptrend.

More commentary after the jump...Stock Market Outlook - Week of August 02 2020