Market Outlook™ – 02/13/19
With light trading volume and small trading range, the S&P 500® finished more than eight points higher – its fourth consecutive gain and ninth bullish close in the past 11 trading sessions. The intermediate posture remains strongly bullish with rising long-term Market Sentiment. The near-term line moved higher into overbought territory but still holds the possibility of a bearish near-term divergence. The momentum line dipped but not low enough to warrant concern about any impending posture change. Aside from the outperforming Russell 2000®, all the other major indexes show the same patterns on their respective Market Forecast charts: strong bullish postures with possible emerging bearish near-term divergences.