The S&P 500 Weekly is showing a close at highs in the upper Keltner channel.
So far the market is starting to show some bullish signs for the first half of the year.
- Multiple tests of the yearly pivot near 1955 have held.
- Closed above 2058, opening print for 2015.
- Closed above 2096.99, last year’s high. Albeit, barely.
- Closed above the six month opening range at 2072.
This is the first week the market has closed outside of the weekly consolidation that’s been happening since January.
The weekly outlook is neutral to bullish.