Today’s Market Outlook:
With slightly above-average but declining trading volume, the S&P 500® finished more than 23 points higher. The intermediate line turned higher and reflects a renewed bullish intermediate posture. The same is true for the Dow Jones Industrial Average and Russell 2000®. Neither of these three indexes have shown a strong enough of a decline to be considered an intermediate pullback yet. On the other hand, the intermediate line for the NASDAQ 100® just barely crossed above the 20th percentile and shows a weak bullish posture with the index still trading well below its falling six-week moving average. Also, its intermediate line is well below its falling long-term Market Sentiment. Other indicators show the other major indexes are not as bullish and confirm their current intermediate runs are very mature.