S&P 500 Weekly Review July 20 – 24

The S&P 500 weekly review is showing another close in the lower Keltner channel. The closing price for this week’s bar is slightly lower than last week’s opening print and about the opening print for July, near 2077. The market has not advanced nor declined from a monthly perspective.

The weekly outlook is neutral to bearish.

S&P 500 Weekly Review July 13 – 17

The S&P 500 weekly is showing a consolidation that has lasted since February of this year. A sustained break to new highs and holding above the upper Keltner channel could result in a rally. Conversely, a sell off could break lows and eventually retest the low 1900s.

The weekly chart is showing a close near previous weekly resistance. A further rally could retest 2160 while a sell off could retest 2098 or lower.

The weekly outlook is neutral to bullish.

S&P 500 Monthly Review June 2015

The S&P 500 monthly is showing a close down. Please note the latest bar in the chart above shows July’s open. June is showing a close beneath last month’s low and has closed in the upper Keltner channel for the first time since 2012.

A sell off could retest 1984, while a rally could retest 2138. The monthly outlook is neutral to bullish.