Today’s Market Outlook:

Today, the S&P 500® rallied more than 102 points on slightly above-average trading volume. The intermediate line continued its run in bullish territory towards the upper-reversal zone. Also, long-term Market Sentiment is moving higher inside bearish territory. Not surprisingly, the momentum line made its way to overbought territory with the near-term line bouncing back near the chart’s midpoint. All the major indexes are showing similar patterns on their respective Market Forecast studies.