S&P 500 Weekly Review September 30 – October 4

The S&P 500 weekly is showing a close in the upper keltner channel. If the market rallies, I expect 1718 to be tested, while a sell off could retest 1661. My outlook is neutral to bullish.

Currently, sentiment seems to be hovering a little heavily bearish due to the debt ceiling ‘debate’. The market does not show the same concern. I am speculating a rally and green close this upcoming week above 1700.