Today’s Market Outlook:
Today, the S&P 500® closed nearly 42 points higher with above-average trading volume and range. The intermediate line remains at strong bullish levels but has crossed slightly below its long-term Market Sentiment. Predictably, the momentum and near-term lines both bounced higher into bullish territory though neither exceeded the 80th percentile. Short-term sentiment is weaker for the Dow Jones Industrial Average and remains at bearish levels for the Russell 2000®. The intermediate line for the small-cap index dropped below the chart’s midpoint.