Market Outlook – 05/23/18 – David Settle
Today, the S&P 500® closed higher by nearly nine points on below-average trading volume. The intermediate posture remains bullish but a flat Market Sentiment line below the chart’s midpoint reflects stocks’ inability to gain any kind of upside momentum. The near-term line dropped slightly but remains in the chart’s upper half. After forming another bullish intermediate confirmation signal yesterday, the momentum line bounced back out of oversold territory and made a run towards overbought territory. All the major indexes are showing strong bullish trends but mixed short-term sentiment. On one end of the spectrum, the Dow Jones Industrial Average and the Russell 2000® have declining near-term lines whereas the S&P and NASDAQ’s near-term lines are above the 50th percentiles.
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!