Market Outlook – 05/11/18 – David Settle
On another day of below-average trading volume, the S&P 500® closed higher by nearly five points. The intermediate line closed inside the upper-reversal zone. The near-term line has closed in overbought territory every day this week. The momentum line fell because of today’s smaller range. But, it did not fall to extreme lows where you’d worry about possible posture changes. All the major indexes are now showing similar patterns now with the NASDAQ Composite and Russell 2000® previously showing strong bullish intermediate postures with near-term confirmation. Market Sentiment is rising for both large-cap indexes but are still stuck below the 50th percentile.
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
Join the growing Market Scholars community with this exclusive, limited-time early access discount offer: Become a Market Scholar!