Market Outlook™ – 02/04/19
With light trading volume and below-average trading volume, the S&P 500® closed higher for a fourth straight session and 20th time in six weeks (27 sessions) since hitting its Christmas Eve low. The intermediate posture remains strongly bullish with rising long-term Market Sentiment that still remains depressed below the chart’s midpoint. Also, the near-term line finished for a third consecutive day in overbought territory (fourth day above the 50th percentile). Not surprisingly, all the major indexes’ Market Forecast charts appear similar to one another.