Today’s Market Outlook:
With average volume and range, the S&P 500® closed lower by nearly 16 points with average volume and range. The intermediate line and long-term Market Sentiment lines are moving lower inside bullish territory. The near-term line is peaking near the 80th percentile with the momentum line dropping into bearish territory. The Russell 2000® shows a more bearish Market Forecast with its intermediate line dropping into bearish territory as its long-term Market Sentiment line turning lower without getting into the upper-reversal zone. Its short-term sentiment lines are also closing below the 40th percentile.