The S&P 500 monthly is showing a close down inside the upper Keltner Channel. However, it failed to close outside of December’s bar.
The monthly outlook is neutral to bullish.
Category Archives: Monthly Review
S&P 500 Monthly December 2014
The S&P 500 monthly is showing another close above the upper Keltner line. On another rally, the market may test 2138.
Key price levels I will be watching next month will be 2049, 2031, and 2040.
The monthly outlook remains bullish.
S&P 500 Monthly Review November 2014
The S&P 500 monthly is showing another close above last month’s high. Despite divergence on the PPO, the monthly chart has yet to close in the lower keltner channel all year.
The monthly outlook remains bullish.
S&P 500 Monthly Review October 2014
The S&P 500 Monthly is still showing divergence despite the long tail on October’s monthly bar. The lows near 1826 were bought all the way back up highs last month.
In order to change sentiment to neutral, a monthly close beneath 1800 needs to be seen.
Until sustained weakness is shown, the monthly outlook remains bullish.
September 2014 Monthly Review
The S&P 500 monthly is showing a close inside of August’s range. Of note is the cross over in averages in the PPO indicator. First one since 2012 on the monthly chart.
If this is the beginning of a bear market, a potential retest of 1798 or lower may happen. For now, the upper Keltner line near 1918 is holding as support for the beginning of October.
The outlook remains bullish.