Medium term is neutral. Ultra short term is bouncing around wildly. Back into neutral territory. Short term is slightly oversold. Seems the end of the month bounce came after a short sell-off. We’ll see what happens after the end of the month bounce ends.
Medium term is declining and slightly overbought. Short term is neutral to slightly oversold. Ultra short term is slightly oversold. Although the indicators above are negative, we are into the best 6 days of the market – -3 business days to +3 business days of the end of the month. SP-500, Dow, Nasdaq haven’t broken…
Medium term is overbought and seemingly at its recent peak level. It is slightly lagging the S&P given its recent high is less than one made over a month ago. This shows some disconnect between the broader market and the SP-500. Short term seems to have broken down out of its ascending trend. Ultra short…
The medium term indicator did a fine job of identifying a tradeable bottom. It is still lagging the S&P-500 which should cause some confident loss in the long side of the trade. Right now the market seems to have a one track mind – going up until behavior changes. Short term comments reflect the same….
Short term is slightly overbought and is exhibiting a pattern of higher lows and lower highs on the recent rally. Medium term seems to have decidedly turned lower in spite of marching higher indexes. If this is truly getting close to the end of this recent rally, we’ll continue to see some rotation of funds…
