Today’s Market Outlook:
The S&P 500® closed higher by more than 38 points on below-average trading volume and range. Today’s gain was the sixth gain in the past seven trading sessions and 13th winner of the past 17 days. The intermediate posture remains strongly bullish with rising long-term Market Sentiment. The near-term line still sits in overbought territory. The momentum line has stopped its trend of dropping to extreme lows and is moving around the chart’s midpoint with small moves in both directions. This is more typical of a slow, grinding upward trend. All the major indexes continue to show similar patterns on their respective Market Forecast studies.