Today’s Market Outlook:

On a second straight day of strong volume and above-average trading range, the S&P 500® closed lower by less than six points. The intermediate line fell further into the lower-reversal zone and long-term Market Sentiment turned slightly lower just under bullish territory. The momentum and near-term lines turned up slightly but remain at oversold levels. The Dow Jones Industrial Average and Russell 2000® produced their second consecutive oversold clusters. The NASDAQ Composite shows a similar pattern with less bearish intermediate posture and stronger Market Sentiment.