The S&P 500 weekly is showing another close below the lower Keltner line. A further rally into the month could retest 2585.
Despite the retracement, the weekly outlook remains bearish.
S&P 500 Weekly Review January 1-4
S&P 500 2018 Yearly Review
The S&P 500 set a new record high last year at 2940 before selling off the rest of the year. Despite the sell off, the lows of 2017 were never tested at 2245, instead last year’s low is 2346.
If the market holds above the pivot near 2600, the market may retest highs.
No outlook to report for the 2019 year as my forecasts are limited to monthly and weekly time periods.
S&P 500 Monthly Review December 2018
The S&P 500 monthly is showing a close in the lower Keltner channel.
The monthly outlook is neutral to bearish.
S&P 500 Weekly Review December 24 – 28
The S&P 500 weekly is showing another close below the lower Keltner line.
The weekly outlook is bearish.
S&P 500 Weekly Review December 10 – 14
The S&P 500 weekly is showing another close below the lower Keltner line.
Until the market shows sustained strength, the weekly outlook remains bearish.