Market Outlook – 06/12/18 – Brandon Van Zee
The S&P 500® closed higher by less than five points. The intermediate line stayed strongly bullish with its position in the upper-reversal zone. Meanwhile, the momentum line fell towards the lower-reversal zone. Market Sentiment continues to be bullish. Many retail and technology stocks continued to rally. Brazil and South Africa are some of the weaker foreign stock markets currently. The much-awaited decision from a judge on the AT&T and Time Warner decision was made in favor of the merger after the stock market closed today. Therefore, media stocks are likely to be in play tomorrow as many industry onlookers expect consolidation to continue within that space.
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