The S&P 500 weekly is showing a break down below the lower Keltner line. This is the first close in this area since November 2012.
The weekly outlook is bearish.
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.
The S&P 500 weekly is showing another close inside of the range between 1840 – 1880. Until a sustained break out of this range is achieved, the outlook remains neutral to bullish.
The Nasdaq 100 is showing the first possible sell signal in almost 13 months. Confirmation of a multi-week sell off is if the market consistently closes in the bottom channel or underneath the lower keltner line, currently near 3439.
Outlook for the NASDAQ 100 is neutral to bearish.