Today’s Market Outlook:

The S&P 500® finished the week with its weakest volume of the week and below-average trading range. The intermediate line continued to move higher and is close to re-entering bullish territory despite a slowly falling long-term Market Sentiment line that remains at relatively high levels. On the other hand, short-term sentiment remains subdued with the near-term line dropping out of bullish territory and the momentum line staying at oversold conditions for a second straight day. The Dow Jones Industrial Average and Russell 2000® are less bullish as the small-cap index crossed above its falling six-week simple moving average (SMA) for the first time Friday and the Dow still trades below its six-week SMA.