Today’s Market Outlook:

With light trading volume and trading range, the S&P 500® finished the day nearly perfectly flat. The intermediate and Market Sentiment lines remain in bullish territory though both lines are moving in opposite directions. The same pattern is true for short-term sentiment – the momentum line fell back into bearish territory whereas the near-term line climbed barely into the upper-reversal zone. The NASDAQ 100® shows the same pattern as yesterday just with a lower momentum line. The Dow Jones Industrial Average has a strong bearish intermediate posture while the intermediate line for the Russell 2000® dropped out of bearish territory.