The S&P 500 is showing divergence on all oscillators now, however, the weekly range has yet to break.
The weekly outlook is neutral to bearish.
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Nasdaq 100 Opening Range 2nd Half of 2015
- Pivot High –4608
- Pivot Low – 4502
- Opening Range High – 4661
- Opening Range Low – 4344
Russell 2000 Opening Range 2nd Half of 2015
- Pivot High – 1276
- Pivot Low – 1225
- Opening Range High – 1212
- Opening Range Low – 1153
S&P 500 Opening Range 2nd Half of 2015
- Pivot High – 2113
- Pivot Low – 2086
- Opening Range High – 2128
- Opening Range Low – 2044
The last six months on the S&P 500 is showing a higher pivot range than in the 2nd half of 2014 and a close above it’s opening range high. Overall, it still looks like major dips are being bought on the S&P 500.
S&P 500 Monthly Review July 2015
The S&P 500 monthly is showing divergence from it’s bullish momentum over the last few years. However, the market has yet to break down or out of it’s current trading range. July closed slightly below last month’s open and continues to trade in the upper Keltner channel.
The monthly out look is neutral to bullish.