Market Outlook™ – 11/18/19
Today’s Market Outlook:
With below-average trading volume and range, the S&P 500® closed more than one point higher for its 28th-straight day of the near-term line finishing above the chart’s midpoint. In fact, the short-term line finished strongly in the upper-reversal zone. But, the smaller range brought the momentum line back down. The intermediate posture remains strongly bullish with rising long-term Market Sentiment. All the major indexes show similar patterns but the Russell 2000®, which continues to show a less bullish short-term sentiment as the small-cap index continued its pullback since early November.