S&P 500 Weekly Review February 3 – 7

The S&P 500 Weekly is showing a close up. Despite testing lows near the lower Keltner channel, the market rallied past Mondays open and closed near the previous week’s high. A market rally may retest 1834 or higher, while a sell off below 1782 would retest the lower Keltner channel near 1732

The weekly outlook remains neutral.