Today’s Market Outlook:

Today, the S&P 500® gained a single point on below-average range and slightly above-average volume. The intermediate line stayed at strong bullish levels as long-term Market Sentiment continues to rise inside the upper-reversal zone. The near-term line fell another day down below the chart’s midpoint as the momentum line crossed slightly out of bullish territory.  Otherwise, all the major indexes’ Market Forecast charts appear similar to one another. The Dow Jones Industrial Average shows a much weaker short-term sentiment with its momentum line at oversold levels and the near-term line flirting with the 20th percentile. Finally, the momentum line for the Russell 2000® hit extreme lows and the near-term line fell into oversold territory suggesting the peak may have been set for the small-cap index.