S&P 500 Monthly April 2015

The S&P 500 monthly is showing a close inside of last month’s bar. Despite the sell off at the end of the month, the close remains above the upper Keltner line. The PPO continues to show divergence, however, sustained selling has yet to take place.

The monthly outlook remains bullish.

S&P 500 Weekly Review April 20 – 25

The S&P 500 weekly is showing another close in the upper Keltner channel. New highs were tested near 2120.92 cash.

In the event of a rally, 2150 may be tested, while a sell off may test recent lows near 2066. Despite new highs being tested, bullish momentum has waned since February.

The weekly outlook remains neutral to bullish.