The S&P 500 weekly is showing another consecutive week down outside of last week’s range. The close retested levels close to two week OR pivot. Further weakness may result in a test near 1634 or lower, while a rally could retest 1696.
My outlook is neutral to bullish.
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.
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 tested new highs in July and closed above June’s range. Until the monthly charts show sustained weakness, the monthly outlook remains bullish.