The S&P 500 monthly review is showing a close above the upper keltner line at 1492. Until I see weakness, my monthly outlook is now bullish.

The S&P 500 monthly is showing a close above resistance near 1490. This is very bullish on a monthly basis. If support holds, this may be a sign that highs near 1576 may be retested. In the event that highs are rejected with a selloff below 1390, 1420 will be retested.

My monthly outlook is bullish.

The S&P 500 Monthly is showing a very wide range over the past three months. Despite this, price action took place all in the upper keltner channel, which looks more bullish then bearish. Until a close in the lower keltner channel occurs, my monthly outlook remains neutral to bullish.