Today’s Market Outlook:

On another day of above-average trading range and volume, the S&P 500® closed the session higher by nearly 32 points as the S&P has been alternating between up and down days over the past 6 trading sessions. The intermediate line has fallen into the lower-reversal zone as long-term Market Sentiment drops out of bullish territory. The momentum and near-term lines bounced higher but were unable to reach bullish levels. All the major indexes are showing similar patterns on their respective Market Forecast charts.