Today’s Market Outlook:

With below-average trading volume, the S&P 500® closed nearly 34 points higher near the highs of the day. The intermediate line remains in the upper-reversal zone with long-term Market Sentiment closing in on the 80th percentile. The momentum and near-term lines bounced higher towards overbought territory. The near-term line for the Dow Jones Industrial Average crossed above the intermediate line but neither short-term sentiment line has closed at high levels in bullish territory yet. Both the momentum and near-term lines for the Russell 2000® closed at bearish levels as its near-term line has crossed back down below the intermediate line.