The S&P 500 made a new high, but closed slightly down from last week. Until sustained weakness shows itself in the market, the weekly outlook remains bullish.
The S&P 500 Weekly is showing another close above the upper Keltner line. Despite a sell off from highs, support held near 1742 and closed up for the week. The weekly outlook remains bullish.
The weekly chart is showing another all time high on the index, however, the highs were sold. Despite a small sell off from new highs, the week still closed above the top Keltner line. A sell off could retest 1737, while another rally could test 1775 or higher.