Market Outlook™ – 03/27/20
Today’s Market Outlook:
With the lightest volume and smallest trading range of the week, The S&P 500® closed more than 88 points lower. The intermediate posture is weakly bullish with the intermediate line barely crossing above the 20th percentile. The near-term line is falling slightly and the momentum line hit oversold levels. Long-term Market Sentiment is still falling towards the lower-reversal zone. The Russell 2000® is also showing a bearish candlestick pattern at the 38% retracement level of the prior bearish near-term run.