Market Outlook™ – 08/03/20
Today’s Market Outlook:
With very light trading volume, the S&P 500® closed higher by more than 23 points. The intermediate posture remains strongly bullish despite falling long-term Market Sentiment. The near-term line stayed at its highest level since June 8 as the momentum line fell just slightly below the 80th percentile after yesterday’s overbought cluster. All the major indexes are showing renewed strong bullish postures with intermediate lines that are moving back above their respective Market Sentiment lines.