Market Outlook™ – 03/08/19
Today, the S&P 500® finished its fifth consecutive session lower (and 8 of the past 9 sessions). But, the broad market closed at its high of the day and above yesterday’s low. The intermediate posture is now weakly bearish after short-term sentiment dropped to strongly oversold levels this week. But, short-term sentiment started to bounce slightly higher with today’s intraday move off the lows of the session. Long-term Market Sentiment still points higher in the chart’s upper half, which suggests any weakness may be nothing more than a pullback before settling back into the bullish trend.