Market Outlook™ – 01/10/20
Today’s Market Outlook:
With average volume and trading range, the S&P 500® finished the week on a down note. The intermediate posture and long-term Market Sentiment remain strongly bullish. The momentum line fell and produced a bullish intermediate confirmation signal. But, the near-term line still sits at elevated levels, which means there may be another day or two of selling to bring the near-term line back below the chart’s midpoint – which is already the case for the Russell 2000®. The small cap index is also showing a new weak bearish intermediate posture.