Today’s Market Outlook:

Today, the S&P 500® rallied nearly 36 points on above-average trading volume and range. Not surprisingly, the intermediate line and long-term Market Sentiment remain strongly bullish with short-term sentiment bouncing back into bullish territory. On the other hand, the Russell 2000® shows a strong bearish intermediate posture with weakening Market Sentiment. The small-cap index’s short-term sentiment lines bounced back to the chart’s neutral area around the midpoint.