The S&P 500 weekly is showing another negative close. The sell signal from last week has been confirmed on the close below last week’s range. On a counter-trend rally, 1638 may be retested, while a continued sell off will test 1524. My weekly outlook is neutral.
The S&P 500 weekly is showing a unconfirmed sell signal. Another weekly close lower or at current levels would confirm the sell. The weekly outlook is neutral to bullish.
The S&P 500 Weekly is showing a close above the upper keltner line. Lows near 1600 this week was bought and the week’s close was inside the previous week’s range. Until I see more weakness, the weekly outlook remains bullish.
The S&P 500 monthly is showing another positive close. Until I see sustained weakness below 1576, the monthly outlook remains bullish.
The S&P 500 closed down below last week’s range. This is a bearish development in an overall bullish trend up. On continued weakness, I suspect 1614 will be tested. Despite the weakness this week, my overall weekly outlook remains bullish.