Market Outlook – 09/11/19
Today’s Market Outlook:
With slightly below-average trading volume, the S&P 500® finished more than 21 points higher for its fifth gain in the past six sessions and eight of the past 10. In fact, the broad market has gained more than 130 points in the past two weeks, or 4.5%. The S&P close very close to finishing with an oversold cluster – the first time it would have done so with a falling six-week moving average in the past 20 years. The intermediate line crossed above the Market Sentiment while in the upper half of the chart. The momentum line or near-term line hit upper extremes on all the major indexes. In fact, the lagging Russell 2000® closed with a similar bullish Market Forecast pattern as the S&P after 3 strong days of outperformance to catch up.