Weekend Stock Market Outlook

Stock Market Outlook For The Week of
October 2nd = Mixed

INDICATORS

20/50/200 Day Moving Averages: Mixed
Price & Volume Action: Uptrend
Objective Elliott Wave Analysis: Mixed

COMMENTARY

Not much changed last week, so the outlook remains mixed.

From a moving average perspective, the Nasdaq and Russell 2000 continue their leading ways, with both indexes above their 20, 50, and 200 day moving averages. The NYSE/S&P500/DJIA are above their 20 day moving averages, but not their 50's; each continue to recover from the September sell off.

2016-10-02-US Stock Market Averages

No change in the total number of distribution days last week either. The uptrend remains in place, but be on the lookout for high-volume sell-offs.

And we're still looking for a confirmation of the recent uptrend from OEW. Even with a confirmation, there's still room for negative price action so I've changed that outlook to mixed.

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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.