Today’s Market Outlook:
With slightly below-average trading volume, the S&P 500® closed more than 58 points higher for its third straight gain and fifth up day in the past seven trading sessions. The intermediate posture remains strongly bullish with rising long-term Market Sentiment. The near-term line jumped to strongly bullish levels to confirm the S&P’s new bullish direction. The NASDAQ 100® shows a new bullish intermediate posture with its intermediate line crossing above 50 and its falling Market Sentiment line. Also, the NASDAQ’s six-week moving average turned higher. Its near-term line jumped to extremely bullish levels too. The underperforming Russell 2000® still shows a weak bullish posture but its intermediate line is close to crossing above the chart’s midpoint.