Weekend Stock Market Outlook

Stock Market Outlook For The Week of
November 27th = Uptrend

INDICATORS

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

COMMENTARY

US stocks winning ways continued last week, in spite of a holiday shortened week. I'm still expecting a pullback at some point, but that should represent a good opportunity to add shares.

All the major indexes remain above their respective 20/50/200 day moving averages.

2016-11-27-US Stock Market Averages

As previously discussed, several distributions days fell off the count as they are no longer in the 20-day window. The count now stands at 1, 2, 4, and 5 for the NYSE, S&P500, Dow Jones Industrial, and Nasdaq, respectively.

OEW's medium term uptrend is expected to remain in place until January.

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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.