Today’s Market Outlook:
Today, the S&P 500® closed nearly six points higher with average trading volume and extremely small range. The intermediate line remains at extremely high levels with long-term Market Sentiment continuing its climb inside bearish territory. The near-term line dipped out of overbought territory as the momentum line jumped above the 40th percentile. The near-term line for the Russell 2000® crossed below the rising intermediate line that is close to entering the upper-reversal zone. Its Market Sentiment remains mired at strong bearish lows.