Today’s Market Outlook:
Today, the S&P 500® closed lower for the third time in the past four trading sessions – this time by more than 31 points. The intermediate line turned slightly lower and remains below the falling long-term Market Sentiment line. The momentum and near-term lines stayed at bearish levels with the near-term line dropping into oversold territory. As usual, all the major indexes are showing the same patterns on their respective Market Forecast studies.