Today’s Market Outlook:

The S&P 500® closed near breakeven today with extremely light trading volume and range. The intermediate line remains in the upper-reversal zone as its long-term Market Sentiment renewed its bullish trend above the chart’s midpoint. The near-term line remains at extremely bullish levels as the momentum line dropped sharply due to today’s minimal range. The S&P shows a similar Market Forecast pattern to the Dow Jones Industrial Average and NASDAQ 100®. The Russell 2000® remains more subdued with its intermediate line falling slightly back below the 50th percentile and the short-term sentiment peaking at bearish levels with falling Market Sentiment.