Market Outlook™ – 07/01/20
Today’s Market Outlook:
With very light trading volume and small range, the S&P 500® closed more than 15 points higher. The intermediate posture turned slightly higher but remains below the long-term Market Sentiment. One day after the momentum line bounced from an extreme low to the upper-reversal zone, the near-term line also made its ways back above the 80th percentile. The strength has been led by the NASDAQ 100®, which shows a strong bullish posture again. But, the intermediate posture for the Dow and Russell 2000® remains bearish with their respective intermediate lines crossing below their corresponding Market Sentiment lines.