The S&P 500 weekly is showing a close above last week’s range. This is the 3rd consecutive week that market has closed above the opening range and made a new all time high. Until I see sustained weakness, my outlook remains bullish.
- Pivot High – 3052
- Pivot Low – 2996
- Opening Range High – 3080
- Opening Range Low – 2913
I’ve been hearing some chatter about the NDX 100 topping here. So far, I don’t see it.
The S&P 500 weekly is showing a close slightly below last week. In the event of a rally, I expect 1714 to be tested, while a sell off may retest the 1650s. The market also closed above the 2 week opening range for the 2nd consecutive week. The daily chart is showing support near 1684.
Until the market shows sustained weakness, my outlook remains bullish.
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.