Today’s Market Outlook:
With below-average trading volume and range, the S&P 500® closed higher for the 15th straight Monday – this time by nearly 46 points. The intermediate line continued to move slightly higher towards the chart’s midpoint and above the falling long-term Market Sentiment line that’s still in bearish territory. The momentum line jumped above the 80th percentile as the near-term line rebounded back above the chart’s midpoint and the intermediate line. As usual, all the major indexes are showing similar patterns with varying degrees of short-term sentiment.