S&P 500 Weekly Review August 26-30

The S&P 500 weekly is showing a close below the middle Keltner line, while oscillators are showing a possible sell. In the event of a further sell off, 1607 – 1587 may be retested. While a rally above 1642 could retest 1702. My weekly outlook is neutral to bearish.


Monthy Review August 2013

The S&P 500 monthly is showing a close inside last month’s range, along with a new all time high that was sold. If the market continues to sell off, I expect 1586 to be retested, while a rally could retest highs near 1709. Until a monthly close below 1576 occurs, the outlook remains bullish.