S&P 500 Weekly Outlook - in consolidation to be ranging between the levels

Weekly price is on bullish market condition located above 100-period SMA and above 200-period SMA:

• the price is in consolidation to be ranging between 2042.11 support level and 2134.42 resistance level;
• if the price will break 2134.42 resistance so the bullish trend will be continuing, otherwise we may see the bullish ranging between familiar levels in consolidation mode;
  
• 1919.68 is the reversal support level: if price crosses this level from above to below - it will be good correctional movement up to the possible reversal to the primary bearish condition in the future;
  
• Nearest key support levels are 2042.11 (W1) and 1919.68 (W1);
• Nearest resistance level is 2134.42 (W1).

• if weekly price breaks 2134.42 resistance so the primary bullish trend will be continuing;
  
• if weekly price breaks 2042.11 support level so we may see the secondary correction within the primary bullish;
  
• if weekly price breaks 1919.68 support level so we may see the good correctional movement up to the possible reversal to the primary bearish condition in the future;
  
• if not so the price will be moved within the channel of familiar levels.