Today’s Market Outlook:

Today, the S&P 500® rose more than 53 points on above-average trading volume. The intermediate posture remains bearish with the intermediate line diving deeper into bearish territory. But, it hasn’t dropped into the lower-reversal zone yet. Long-term Market Sentiment has rolled over and is moving lower. Short-term sentiment is rising but both lines are just crossing above the chart’s midpoint with neither the momentum nor near-term line breaching bullish territory. The Russell 2000® shows a similar pattern on its Market Forecast chart.