The S&P 500 weekly is showing another close in the lower Keltner channel. Despite the recent strength, the weekly outlook remains neutral to bearish.
The S&P 500 weekly is showing another close below the lower Keltner line. A further rally into the month could retest 2585.
Despite the retracement, the weekly outlook remains bearish.
The S&P 500 set a new record high last year at 2940 before selling off the rest of the year. Despite the sell off, the lows of 2017 were never tested at 2245, instead last year’s low is 2346.
If the market holds above the pivot near 2600, the market may retest highs.
No outlook to report for the 2019 year as my forecasts are limited to monthly and weekly time periods.
The S&P 500 monthly is showing a close in the lower Keltner channel.
The monthly outlook is neutral to bearish.