Today’s Market Outlook:
With below-average volume and range, the S&P 500® closed lower for a fourth straight session – this time by nearly 35 points. The intermediate line is dropping out of bullish territory and is crossing below its long-term Market Sentiment line. Short-term sentiment remains depressed in the lower-reversal zone near extreme levels. Not surprisingly, all the major indexes are showing similar patterns on their respective Market Forecast studies.