Today’s Market Outlook:

The S&P 500® dropped nearly 55 points on above-average trading volume and range to finish off a flat trading week. The intermediate line continued slightly higher but remains below bullish territory and falling long-term Market Sentiment. The near-term line dropped back down below the intermediate line after a brief into the chart’s upper half. Predictably, the momentum line dropped to extreme lows. As usual, all the major indexes are showing similar patterns on their respective Market Forecast studies.