S&P 500 Monthly Review June 2015

The S&P 500 monthly is showing a close down. Please note the latest bar in the chart above shows July’s open. June is showing a close beneath last month’s low and has closed in the upper Keltner channel for the first time since 2012.

A sell off could retest 1984, while a rally could retest 2138. The monthly outlook is neutral to bullish.