The S&P 500 weekly is showing continued weakness. Until I see some signs of strength, my outlook is neutral to bearish.
October 22 – 26 Weekly Review
The S&P 500 Weekly is showing a sell signal on one of the oscillators. Another weekly close down will confirm that a continuation of a sell off will occur in the next few weeks. In the event of a sell off, I expect 1352 to be tested.
My weekly outlook is neutral.
October 15 – 19 Weekly Review
The S&P 500 weekly is showing another close in the upper Keltner Channel, however, price action is still range bound despite the sell off from highs yesterday. If another weekly close down happens, I expect one of the oscillators to go to sell. In the event of a sell off, I expect 1400 to be retested.
My outlook remains neutral to bullish.
October 8 – 12 Weekly Review
The S&P 500 weekly closed beneath support at 1446. If the sell off continues, 1391 may be tested in the coming weeks while a rally above 1446 could retest highs.
My outlook is neutral to bullish.
Cleaned House
I decided to reset the blog and clear the archives. I will continue to post my weekly and monthly updates.