Market Outlook™ – 12/13/19
Today’s Market Outlook:
On a second straight day of strong volume and above-average trading range, the S&P 500® finished with only a quarter-point gain. The tug-of-war between bulls and bears culminated in a doji candlestick pattern that may be indicative of short-term weakness during a seasonally weak time of year before the holiday. The intermediate posture and long-term Market Sentiment remain strongly bullish. But, the near-term line is setting up for a potential bearish near-term divergence after yesterday’s breakout move to new highs. The other major indexes are showing the same pattern on their respective Market Forecast studies: strong trend with budding bearish near-term move that could lead to a weak bearish posture – but most likely not a trend change.