Today’s Market Outlook:

With below-average trading volume and slightly above-average trading range, the S&P 500® closed higher by more than 30 points. The intermediate line continued to move lower into the chart’s lower-reversal zone as long-term Market Sentiment dropped out of overbought territory. The momentum and near-term lines moved higher towards the chart’s midpoint. All the major indexes are showing similar patterns on their respective Market Forecast charts.