S&P 500 Weekly Review July 15 – 19

The S&P 500 weekly is showing a new all time high. The daily chart on the S&P 500 is showing a possible breakout, while the weekly chart is showing support from the upper Keltner line at 1669.  The 2 weekly opening range for the next six months has also been exceeded. Until some sign of sustained weakness, the weekly outlook remains bullish.

S&P 500 Weekly Review July 8 – 12

The S&P 500 weekly is showing a close near previous highs at 1687. If the highs are broken, 1703 could be tested, while a sell off could retest 1662 or lower. My weekly outlook is bullish.

The opening range for the next six months has completed. They are the following:

ES Futures:

  • High: 1674.25 ES
  • Low: 1594.25
  • Pivot High: 1658.50
  • Pivot Low:  1634.25

S&P 500 Cash

  • High: 1680
  • Low: 1604
  • Pivot High: 1667
  • Pivot Low: 1642

I will be watching these numbers closely in the weeks to come.