Today’s Market Outlook:
On the lightest volume and range day since last Black Friday, the S&P 500® closed more than 3 points higher as it continues to flirt with the 5,000 milestone. The intermediate line remains at extreme levels above its slightly falling long-term Market Sentiment line. Also, the near-term line closed at extreme highs despite a weak momentum line that has dropped down from a bearish peak back into bearish territory. The near-term line for the Russell 2000® closed in overbought territory without the momentum line hitting strong levels first. But, its intermediate line remains in bearish territory with slightly falling Market Sentiment.