Today’s Market Outlook:

On a fourth straight day of strong trading volume and above-average range, the S&P 500® closed nearly 27 points lower for its fifth loss in the past seven trading sessions. The intermediate line remains in the lower-reversal zone with long-term Market Sentiment fluctuating slightly higher and lower just under bullish territory. The two short-term lines diverged with the momentum line dropping slightly towards bearish levels but the near-term line came close to overbought territory. The near-term line for the NASDAQ 100® spiked to extreme highs with long-term line easily moving higher above the 65th percentile.