The S&P 500 weekly is still showing a close in the upper keltner channel. Despite the sell off, the weekly bar closed inside the previous week’s range.
The weekly outlook remains neutral to bullish.
S&P 500 Monthly April 2015
The S&P 500 monthly is showing a close inside of last month’s bar. Despite the sell off at the end of the month, the close remains above the upper Keltner line. The PPO continues to show divergence, however, sustained selling has yet to take place.
The monthly outlook remains bullish.
S&P 500 Weekly Review April 20 – 25
The S&P 500 weekly is showing another close in the upper Keltner channel. New highs were tested near 2120.92 cash.
In the event of a rally, 2150 may be tested, while a sell off may test recent lows near 2066. Despite new highs being tested, bullish momentum has waned since February.
The weekly outlook remains neutral to bullish.
S&P 500 Weekly Review April 13 – 17
The S&P 500 is showing another close in the upper Keltner channel. The weekly outlook remains neutral to bullish.
S&P 500 Weekly Review April 6 – 10
The weekly bar closed inside of the last month’s trading range. Momentum to the upside is waning , however, sustained selling has not taken place yet. The weekly outlook is neutral to bullish.