The S&P 500 weekly is showing another close above the upper Keltner channel. Buyers came in at last week’s closing price.
The weekly outlook is bullish.
The S&P 500 weekly is showing a close above 2111 in the upper Keltner channel.
Despite the volatility in the last few weeks, the market has consistently closed in the upper Keltner channel. If 2111 holds as support, the market may breakout.
However, a breakout in bonds is occurring on the 30 year. A tandem rally in both asset classes is rare.
The weekly outlook is neutral to bullish.