Market Outlook – 06/04/18 – David Settle
Today, the S&P 500® rallied for a second straight session and closed with a 12-point gain on extremely light volume. Of course, the intermediate posture remains strongly bullish and the near-term line reached the upper-reversal zone to confirm the current trend. In fact, the current bullish posture has been intact for a month now. Market Sentiment is rising but remains in the lower half of the chart. This suggests there’s more upside potential for stocks. The Dow Jones Industrial Average shows a renewed bullish posture after being the only major index with a bearish posture. It’s been unable to eclipse its recent two-week range like the other major indexes. The outperforming NASDAQ Composite and Russell 2000 show similar patterns on their Market Forecast charts as the S&P 500’s study.
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