Today’s Market Outlook:
Today, the S&P 500® closed nearly 4 points higher with slightly below-average trading volume and range. The intermediate line remains at strong bullish levels and has crossed back above its long-term Market Sentiment. On the other hand, short-term sentiment is weaker with the momentum line staying near oversold levels and the near-term line falling out of the upper-reversal zone. The intermediate line for the Russell 2000® is slowly rising again but remains below the chart’s midpoint as the near-term line has crossed back below the intermediate line and finished in bearish territory.