Today’s Market Outlook:
Today, the S&P 500® closed flat with average trading volume and range. The intermediate line is still rising in the chart’s lower half and above its falling long-term Market Sentiment that’s moving its way towards the lower-reversal zone. The momentum line dropped with today’s loss and the near-term line stopped short of entering overbought territory. The Dow Jones Industrial Average shows a similar pattern on its Market Forecast. The near-term line for the NASDAQ 100® still has not eclipsed its intermediate line that is already in bullish territory. On the other hand, the intermediate and Market Sentiment lines for the Russell 2000® are still moving lower into the lower-reversal zone as its short-term sentiment is the weakest of the major indexes.