The S&P 500 weekly is showing a close inside last week’s range. Support is still holding near 1684. On a sell off, I expect 1654 to be tested. While a rally should retest highs near 1709. The weekly 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.