Today’s Market Outlook:

Today, the S&P 500® rose less than one point on above-average volume thanks to a late 90-point intraday rally. The intermediate line stayed in the lower-reversal zone but both short-term sentiment lines moved slightly higher and avoided a second straight oversold cluster. Long-term Market Sentiment is still slowly moving lower just inside bearish territory near the 40th percentile. All major indexes are showing similar patterns on their respective Market Forecast studies.