Today’s Market Outlook:

With below-average, pre-holiday trading range and volume, the S&P 500® closed the week with its third gain in the past four trading sessions. Today’s 22-point gain brought the momentum line slight higher back into bullish territory but was not strong enough to reverse the falling near-term line that produced a bearish near-term peak or reverse the falling intermediate line that is close to the lower-reversal zone. Long-term Market Sentiment continued slightly higher but appears likely to peak without breaching bullish territory.