The S&P 500 weekly is showing another close inside of the previous week’s range. The close is almost identical to last week. Until market shows sustained weakness, the weekly outlook remains neutral to bullish.
Category Archives: Weekly Review
S&P 500 Weekly Review May 5 – 9
S&P 500 Weekly Review April 28–May 2
S&P 500 Weekly Review April 21 – 25
S&P 500 Weekly Review April 7 – 11
The S&P 500 weekly is showing a close beneath the middle Keltner line in many weeks. It is also the first close below the range between 1840 – 1880 in over a month. On further weakness, 1770 might be tested, while a rally could retest the range above 1840-1880.
The weekly outlook is neutral to bearish.
The NDX has closed in the lower Keltner channel. On a further sell off, the lower Keltner line near 3430 or a retest of previous lows near 3410 may happen. The weekly outlook for the NDX is bearish.