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.
The weekly outlook is bullish.
Another new high was made, along wither another close up above last month’s range. Until sustained weakness is seen, the monthly outlook remains bullish.
The SP 500 weekly is showing a new high on the chart and a close above the previous Keltner line. Until sustained weakness comes into the market, the weekly outlook remains bullish.
The S&P 500 weekly is showing another close above the upper Keltner line. A rally may test 1767 while a sell off may retest 1728 or lower. The weekly outlook is bullish.
The S&P 500 weekly is showing another close in the upper Keltner channel. The reversal from lows near 1650 shows that buyers are still in the market. On a rally, 1722 or higher may be tested, while a sell off should retest 1664 or lower.
One detail that’s interesting is the slight divergence on the PPO. This is reflected in the price action where highs are sold into the Keltner average, rather than just the top Keltner line in the previous half of the year.
The weekly outlook is neutral to bullish.