Market Outlook – 03/26/18 – David Settle
The intermediate posture for the S&P 500® remains bearish with the intermediate line now crossing below the chart’s midpoint. Long-term Market Sentiment continues to point lower, which suggests stocks’ path of least resistance is to the downside. Short-term sentiment improved but not enough to expect a trend change yet to the upside. In fact, the near-term has been below the 50th percentile for nearly two weeks and still hasn’t crossed into the chart’s upper half yet. All the major indexes show bullish candlestick reversal patterns with rising short-term sentiment lines but also still show bearish intermediate and long-term trends.
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