Category Archives: Monthly Review

S&P 500 Monthly Review – September 2015

The S&P 500 monthly for September is showing another close in the lower Keltner channel near 1920. The latest bar is the start of the October monthly bar. September closed inside of the August range. A consolidation is taking place on a monthly basis that will determine whether the August sell off is a temporary pull back in the bull trend that’s lasted for the past 5 years or the start of a bear market. Consecutive closes under the lower Keltner line would signify the start of a bear market.

The monthly outlook is neutral to bearish.

S&P 500 Monthly Review August 2015

The S&P 500 monthly is showing a close in the lower Keltner channel for the first time time since 2011.

On top of that, the market has closed below the opening range for the second half of the year for over two weeks.  Both signs are bearish signals, however, sustained selling has yet to be confirmed as the previous uptrend has been in place for over 3 years.

The monthly outlook is neutral to bearish.

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.

S&P 500 Monthly Review June 2015

The S&P 500 monthly is showing a close down. Please note the latest bar in the chart above shows July’s open. June is showing a close beneath last month’s low and has closed in the upper Keltner channel for the first time since 2012.

A sell off could retest 1984, while a rally could retest 2138. The monthly outlook is neutral to bullish.