Today’s Market Outlook:

Today, the S&P 500® rose for a fourth straight session – this time by 43 points on slightly above-average volume. The momentum line continued lower due to today’s smaller range. But, the short-term winning streak has pushed the near-term line to extreme bullish levels. The intermediate and long-term Market Sentiment lines are moving higher. The intermediate line came out of the lower-reversal zone and the long-term line is close to crossing into bullish territory for the first time all year. Predictably, all the major indexes are showing similar patterns on their respective Market Forecast studies.