Today’s Market Outlook:

Today, the S&P 500® closed lower by more than 29 points for its first down session in four. Despite the small decline, the intermediate line remains at extreme bullish levels with long-term Market Sentiment rising. The near-term line has dipped out of bullish territory and the momentum line dropped into oversold territory. This pattern produces a bullish intermediate confirmation signal going into the end of the week. All the major indexes are showing similar patterns on their respective Market Forecast studies.