Market Outlook – 07/12/19
Today’s Market Outlook:
With extremely light trading volume and small trading range (typical summer session), the S&P 500® closed more than 13 points higher at a new all-time high. Not surprisingly, the intermediate posture remains strongly bullish with rising Market Sentiment. The near-term line spiked high into the upper-reversal zone, which confirms the current trend and supports its persistence. The momentum line bounced but only to the chart’s midpoint because of today’s extremely small range – half the average. As has been the case lately, all the major indexes are showing the same pattern on their respective Market Forecast charts with the exception of the weak bearish Market Sentiment for the Russell 2000®.