The S&P 500 weekly is showing another close higher then the previous week. The break above resistance and support at 1538 shows an extraordinary amount of buying. Until I see some sign of weakness, my weekly outlook remains bullish.
The S&P 500 weekly is showing another close higher, but momentum is starting to wane. The upper keltner line where tops usually occur was tested and sold. In addition, the CCT indicator is showing a possible top forming. However, a complete rejection of current price levels has not occurred and support near 1492 has not been tested yet. Until I see more signs of weakness in the market, my outlook remains bullish.