S&P 500 Jul 18 to Jul 22 Outlook

Recap
S&P acted the weakest as noted last week. It dropped 100% absolute range expansion to the downside and tagged Y-3.

Outlook
Although S&P was weak, it is still holding above the midpoint of the rally from 2 weeks ago. That is a bullish sign.

If S&P can trade and close above B-0 this week, we get confirmation of the daily timeframe uptrend to resume.