Today’s Market Outlook:

The S&P 500® closed more than 56 points lower for its second consecutive 1%-or-more loss with strong volume and trading range. The intermediate continued lower inside bearish territory and is close to crossing into the lower-reversal zone. Long-term Market Sentiment continues to slowly rise but remains a the upper end of neutral levels. Both the momentum and near-term lines are sitting at extreme lows. As usual, all the major indexes are showing similar patterns on their respective Market Forecast studies.