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
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
More commentary after the jump...Stock Market Outlook - Week of August 02 2020
Even with an uptrend in place, now is not the time to get complacent. Your favorite stock might be one conference call away from a major selloff; just ask Intel shareholders!
More commentary after the jump...Stock Market Outlook - Week of July 26 2020
The S&P500 closed above the resistance trendline, with a bullish ADX and price/volume count. And Elliott Wave count still shows a 5th wave in progress.
More commentary after the jump...Stock Market Outlook - Week of July 19 2020
The ADX remains bullish and distribution days are spread out. Elliott Wave still shows a 5th wave looking to get past the June 8th high.
More commentary after the jump...Stock Market Outlook - Week of July 12 2020
The ADX Directional indicators cross-over again, price / volume remains well behaved, and no change in the Elliott Wave count.
With Q2 in the books, it's a great time to take stock of your personal financial situation and goals for the year. The first half of 2020 was a wild ride and everyone's finances were impacted in some way.
More commentary after the jump...Stock Market Outlook - Week of July 05 2020
