Seasonality is beginning to work against stocks with half of May and June ahead. The rate of this sell-off has been steep and unanticipated by me. That said, the VIX is not seeming to show much panic. So either that is to come soon, or we’re close to a short term bottom.
Slightly below neutral. Normal level for a rising market. Neutral with some indecisiveness. This could lead to a big break either way. The little recent lip and potential up turn could indicate some strength. The recent declining peaks is indicative of a thinning bull market however. Kind of in a wait and see on this...
Ultra Short Term is neutral. Nothing to see here except indecisiveness and decidedly less strength than when this rally started. Short term is neural. Again, showing a lot less stocks in short term up trends than in late December. Eventually this will cause the majors to roll over. Medium term shows the most true state...
The rally that began on Christmas eve is starting to age. However, with April typically one of the best months of the year, I don’t think it’s time to roll over has arrived just yet. Probably have to wait for some maturation and flat/topping/rolling over action to take place over the next 2-3 weeks.
Last week heading into the end of the month boost, we saw my three shortest term indicators reach neutral or oversold levels. This so far has boosted markets the last three days.
Ultra short slightly overbought. Short term is slightly overbought and oddly has a clear declining trend. Medium term has shown clear signs of decline recently. The S&P is resisting this decline so far. This appears to have slight signs of slowing down its ascent. Will it roll over?
We will encounter some seasonal headwinds in the next two weeks. Medium term remains overbought, VIX is slightly oversold, and Long term many stocks haven’t yet recovered from the sell off last fall. It’s not a super low risk time to be buying equities.
Ultra short term is overbought. Short term is slightly overbought. Medium term is slightly overbought, and sits a little off of recent highs. Long term is oversold. Something is going on here. Most stocks still haven't entered long term rallies in spite of the 13% or so rally off the Christmas eve lows. On a...
The Ultra Short Term indicator is partially oversold. It has been lagging since early January. Short term is slightly overbought. Again, it is lagging the peak made in early January. Medium term is coming off of extremely overbought levels,. This may not be the greatest time to buy stocks. A month ago, sure, it would've...
Ultra Short Term is neutral. Oddly it has fallen off quite a bit since its high in early January. The same comments from the Ultra Short Term Indicator apply to the Short Term Indicator. Medium Term Indicator is overbought. Long Term Indicator is oversold. Oddly it has not hit lows reached since this epic Bull...
