Today’s Market Outlook:

With low volume and trading range, the S&P 500® rose more than 22 points. The intermediate posture and long-term Market Sentiment remain strongly bullish. The near-term line is in the upper-reversal zone again but is showing a potential bearish near-term divergence. The momentum line dropped with two small trading ranges the past two sessions. The Market Forecast study for the Russell 2000® still shows a less bullish pattern. Its intermediate line just crossed the chart’s midpoint and is already slowing its ascent. The near-term line is also setting up for a possible bearish near-term divergence.