Today’s Market Outlook:

With below-average range and volume, the S&P 500® closed nearly 12 points higher. The intermediate line rose slightly but remains in bearish territory. Long-term Market Sentiment also continues to move slowly higher towards bullish territory. The intermediate line is moving below Market Sentiment and the near-term line stayed lower the intermediate line as it dropped into the lower-reversal zone. The momentum line rallied from extreme lows and crossed above the 20th percentile. As usual, all the major indexes are showing similar patterns on their respective Market Forecast studies.