Today’s Market Outlook:
With slightly below-average volume and range, the S&P 500® closed lower by nearly three points. The intermediate line is still rising along with long-term Market Sentiment though neither line has reached bullish territory. The momentum line dropped back down below the 60th percentile just as the near-term line was making its way towards overbought territory. As usual, all major indexes are showing similar patterns on their respective Market Forecast studies.