Today’s Market Outlook:

With below average trading range and volume, the S&P 500® closed nearly 28 points higher for its seventh gain in the past nine trading sessions. The intermediate posture remains strongly bullish with a weak bearish long-term Market Sentiment. The near-term line stayed in the chart’s lower half but the momentum line jumped out of oversold territory after Friday’s decline. All the Market Forecast charts appear similar to one another. The Russell 2000® shows strong bearish short-term sentiment that may be indicative of a impending change to its intermediate trend.