Weekend Stock Market Outlook

Stock Market Outlook For The Week of
May 22nd = Downtrend

MOVING AVERAGES

Short-term (20 DMA): Downtrend
All the major stock market averages remained below their 20-day moving averages.

Intermediate (50 DMA): Downtrend
All the major stock market averages remained belowtheir 50-day moving averages.

Long-term (200 DMA): Mixed
3 of the 5 major stock market averages remained above their 200-day moving averages.

2016-05-22 - US Stock Market Averages

COMMENTARY

No change in the market outlook based on last week's trading action. Friday's option expiration gave the expected boost to prices, but volume was a bit subdued.

Price/volume action still shows a lot of high volume selling. Per OEW, we could a small rally before prices head farther south.

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For the detailed Elliott Wave Analysis, go to the ELLIOTT WAVE lives on by Tony Caldaro. Charts provided courtesy of StockCharts.com.

Moving Average Signals:

Uptrend = Market indexes remained above their moving average during the trading week

Downtrend = Market indexes remained below their moving average during the trading week

Buy signal = Market indexes rose above their moving averages during the trading week

Sell signal = Market indexes fell below their moving averages during the trading week