The S&P 500 weekly is showing another close in the upper Keltner channel. Until the market breaks and holds above the upper Keltner line near 2086 or sells off below 1994, the weekly outlook remains neutral to bullish.
The S&P 500 weekly is showing another close in the upper Keltner channel. The upper Keltner line has been sold 3 times in the last 3 weeks. Resistance is near 2085, while a test of support will happen around 1993-2040.
The S&P 500 weekly closed above the upper Keltner line. If the upper Keltner line near 2090 becomes support, the S&P 500 may be entering into an uptrend. Conversely, weakness and a rejection of these levels, may suggest a top.