Market Outlook™ – 03/23/20
On another day of strong above-average volume, the S&P 500® closed lower by 67 points – its first below-average trading range since the decline accelerated. The intermediate posture remains strongly bullish with falling long-term Market Sentiment. In fact, both short-term sentiment lines closed in oversold territory to close with a cluster. The NASDAQ Composite and Russell 2000® did not show the same oversold signal. In fact, the NASDAQ finished with a doji pattern and the small-cap index produced a long lower shadow. Both patterns can be considered short-term reversal signals.[/vc_column_text][vc_message message_box_style=”solid-icon” message_box_color=”juicy_pink”]
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