Today’s Market Outlook:

Today, the S&P 500® closed lower by more than 25 points for its second straight loss on below-average trading volume and range. The intermediate line remains at strongly bullish levels with long-term Market Sentiment falling slightly in the lower section of bullish territory. The momentum line stayed at oversold levels as the near-term line dropped below the chart’s midpoint. All the major indexes are showing similar patterns on their respective Market Forecast studies.