The S&P 500® jumped 0.48% and hit a new multi-month high. However, today’s candle emulated a doji, which is often viewed as an indecision day and can be a precursor to a potential reversal. Currently, it continues to have a strongly bullish intermediate posture. The momentum and near-term lines inched higher and closed near the upper-reversal zone. The Dow Jones Industrial Average lead the U.S. markets today with a 0.79% advance and also reverted back to a bullish intermediate posture. However, a near-term divergence could be a concern for its recent price action. The Russell 2000® fell over 1% today but did end with a bullish intermediate confirmation signal. The NASDAQ Composite® closed well off of its highs, but hit a new all-time high on an intraday basis and continues to have a strongly bullish intermediate posture.

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