Today’s Market Outlook:

The S&P 500® closed more than 64 points higher for its second straight strong positive session. The intermediate line turned higher but remains in bearish territory. Long-term Market Sentiment turned slightly higher as it moves up inside the chart’s upper half. Both the momentum and near-term lines jumped sharply into overbought territory with the momentum line hitting extreme highs. As usual, all the major indexes are showing similar patterns on their respective Market Forecast studies.