Today’s Market Outlook:
With significantly below-average trading volume and trading range, the S&P 500® closed higher for the ninth straight Monday – this time by more than 27 points. The intermediate line continued slightly higher but still in bearish territory as long-term Market Sentiment declines towards the the chart’s midpoint. The momentum and near-term lines bounced higher but neither reached strong bullish levels. All the major indexes appear similar to each other with a small exception being the intermediate lines for the Russell 2000® and Dow Jones Industrial Average remain in the lower-reversal zone and the Dow’s short-term sentiment is less enthusiastic.