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:
- 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.
The S&P 500 is showing a close above last week’s range. On continued strength, 1652 may be tested, while a sell off may retest 1592. My outlook remains neutral to bullish.
The monthly chart is showing another close above the 2007 highs near 1576. In addition, this month’s close is in May’s range. Until I see a sustained sell off with a close below 1546, the monthly outlook remains bullish.
The S&P 500 weekly is showing a close in the upper keltner channel. On a rally, I expect 1646 to be tested, while a sell off could retest 1587 or lower. My weekly outlook is neutral to bullish.
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.