Today’s Market Outlook:

With significantly below-average trading volume and trading range, the S&P 500® closed higher for the 11th straight Monday – this time by just more than 3 points. The intermediate line turned slightly lower but still in the upper half of its chart as long-term Market Sentiment declines inside bullish territory. The momentum line stayed in oversold territory for a second straight day as the near-term line joined it today in the lower-reversal zone. The Russell 2000® formed its second oversold cluster in the past week. Otherwise, the major indexes are showing similar patterns on their respective Market Forecast studies.