Today’s Market Outlook:

With a large spike in trading volume and above-average trading range, the S&P 500® finished the week on a low note with a 55-point loss – its fourth straight losing session. The intermediate posture and long-term Market Sentiment remain strongly bullish but short-term sentiment has dropped sharply with the momentum line hitting extreme lows. The Dow Jones Industrial Average is in an intermediate pullback mode with its intermediate line dropping below the 40th percentile and Market Sentiment falling out of the upper-reversal zone. The Russell 2000® shows a weaker bearish posture than its blue-chip counterpart. However, the NASDAQ 100® still shows a strong bullish intermediate posture with bullish short-term sentiment.