The S&P 500 weekly is showing a close in the lower Keltner channel. This is the first close beneath lower Keltner channel since September 2015. Both oscillators are showing weakness and sell signal has been confirmed. Further confirmation is if resistance holds near 1910.
The weekly outlook is bearish.
The S&P 500 weekly is showing a close in the lower Keltner channel. A break below 1914 could retest lows near 1867, while a rally could retest 2017.
A possible sell signal has also triggered on one of the oscillators.
The weekly outlook is neutral to bearish.
The S&P 500 Weekly is showing a close in the lower Keltner channel. The CCT indicator is also showing a close below 50. If the market sells off, 1934 may be tested, while a rally could retest highs near 2050.
The weekly outlook is neutral to bearish.
Edit -I think this is a unconfirmed sell.
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.