Weekend Stock Market Outlook

Stock Market Outlook For The Week of
February 26th = Uptrend

INDICATORS

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

COMMENTARY

US stock markets, generally speaking, paused their advance last week.  For what it's worth, the Dow even managed to keep it's winning streak alive, hitting 11 straight days of higher closes.

All the indexes remain above their respective 20 and 50 day moving averages.

2017-02-26-US Stock Market Averages

2017-02-26-US Stock Market Averages

Price and volume action remains positive, although some leading stocks (i.e. those with strong fundamentals) are selling off due to weaker than expected earnings guidance.  Distribution days remain in check.

OEW continues to signal an uptrend, with analysis indicating a few more higher highs before we see a 5% pullback.

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You can check out how well (or poorly) the outlook has tracked the market using past performance estimates:

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