Today’s Market Outlook:
With average volume and trading range, the S&P 500® closed nearly 57 points higher for its second consecutive gain. The intermediate line continued lower below its long-term Market Sentiment line into bearish territory. However, both short-term sentiment lines moved higher into the chart’s upper half – though neither line sets up the potential for a trend-changing move yet. As usual, all the major indexes are showing similar patterns on their respective Market Forecast studies.