The S&P 500 weekly is showing a close in the upper keltner channel. If the market rallies, I expect 1718 to be tested, while a sell off could retest 1661. My outlook is neutral to bullish.
Currently, sentiment seems to be hovering a little heavily bearish due to the debt ceiling ‘debate’. The market does not show the same concern. I am speculating a rally and green close this upcoming week above 1700.
The S&P 500 monthly is showing another close above the top Keltner line. In the event of a rally, highs near 1728 could be retested, while a sell off could retest 1619.
The monthly outlook is bullish.
The S&P 500 weekly is showing a close in the upper Keltner channel. On a rally, 1718 may be tested while a sell off may retest the 1660s. The weekly outlook is neutral to bullish.
The S&P 500 weekly is showing a close right underneath the upper Keltner line. News highs were made on the index. On a rally above 1715, 1750 may be tested, while a sell off may test 1658 or lower.
The weekly outlook is neutral to bullish.
The S&P 500 weekly is showing a close above the middle keltner line. Another rally this week could test 1711, while a sell off could retest 1634 or lower. The weekly outlook is neutral to bullish.