Market Outlook – 06/13/19
Today’s Market Outlook:
With another day of extremely light trading volume and small trading range, the S&P 500® rose nearly 12 points. The momentum line bounced higher again but the near-term line stayed below the chart’s midpoint for a second consecutive day. But, due to its position above the lower-reversal zone and in the chart’s lower half for only two days, there’s still a good chance, the near-term line bounces back above the 50th percentile tomorrow. Of course, the intermediate line is still rising towards the upper-reversal zone and has crossed above its Market Sentiment line. All the major indexes look similar – especially after today’s outperformance in small-cap stocks that brought the Market Forecast chart for the Russell 2000® more in line with its large-cap counterparts.