The close in the lower Keltner channel is a first in many January’s. Buyers still seem to be present in the 1900s-1800s. Despite this, the market outlook is neutral to bearish.
The S&P 500 weekly is showing a close in the lower Keltner channel. A rally could retest 2017, while a sell off below 1908 could retest lows.
The weekly outlook is neutral to bearish.
- Pivot High – 1948
- Pivot Low – 1903
- Opening Range High – 2038
- Opening Range Low – 1858
First lower pivot range on the six month range since 2012.