The S&P 500 monthly is showing another close above the upper Keltner line. On another rally, the market may test 2138.
Key price levels I will be watching next month will be 2049, 2031, and 2040.
The monthly outlook remains bullish.
Monthly Archives: December 2014
Predictions for 2015
Bull Markets
US Dollar – DX futures continue to rise. Demand for USD has only gotten stronger this year and price has exceeded previous highs in 2009. A close above 90 in the H5 contract is a very bullish sign.
US Stock Market – The Dow Jones Industrial, S&P 500, and NASDAQ 100 all exhibit strong bullish trends that have yet to break in the past 3 years. A change in trend would require a monthly close beneath the following levels:
- S&P 500 – 1728 (-360 pts)
- Dow Jones Industrial – 15378 (-2675 pts)
- NASDAQ 100 – 3361 (-953 pts)
Bear Markets
Oil – Crude looks like it’s going to retest the 2009 lows near 33.
Gold – Despite my username, gold has yet to mount a rally that’s lasted more than six months. I think that as long as the US Dollar remains in a bull market, gold will continue to decline.
S&P 500 Weekly Review December 22 – 26
The S&P 500 closed near new highs.
The weekly outlook remains bullish
S&P 500 Weekly December 15 – 19
The S&P 500 weekly is showing an almost complete reversal from the previous week’s sell off.
The weekly outlook is bullish.
S&P 500 Weekly Review December 8 – 12
The S&P 500 weekly is showing a close in the upper Keltner channel. On a continued sell off, 1992 or lower will be tested, while a rally could retest 2058.
The weekly outlook is neutral to bullish.