Today’s Market Outlook:

Today, the S&P 500® closed more than 165 points lower on strong trading volume and range. The intermediate line remains in the lower-reversal zone and both short-term sentiment lines dropped – the momentum line hit extreme lows again and the near-term line fell out of bullish territory. Long-term Market Sentiment is falling just inside bearish territory below the 40th percentile – still above the intermediate line. As usual, all the major indexes are showing similar patterns on their respective Market Forecast studies.