Hey everyone – here are the latest readings from my stock market indicators. Nothing super consistent out of these – some overbought and oversold. Gold and gold stocks have been fairly resilient lately in spite of huge increases since their March bottom.
Here are the latest readings from my stock market indicators as we approach the best 7 day monthly cycle in the historically strong month of April.
Ultra short term is overbought Short term is neutral Medium term is miraculously back to very overbought levels. Long term is reaching oversold levels coincident with all the short term indicators in neutral or overbought territory. For the best entry point, ideally we'd see them all oversold at once.
Here are the latest readings from my stock market indicators.
Here are the latest readings from my stock market indicators. April is historically one of the best months for the S&P before the old adage to sell in May and go away takes hold. We’ll see how this rally holds up after the month end / start fund bid goes away.
Ultra short term is neutral Short term is overbought Medium term remains oversold Long term is neutral to slightly oversold
Ultra short term has been building off a solid base and shows at least some stocks are not getting as pummeled lately. It's neutral right now. Short term did the opposite and made new lows and is slightly off lows remaining in oversold territory. If this time is not different, this indicator is likely indicating...
The best case scenario is for all these stock market indicators to line up at low values, and for the medium term to stay above its previous lows while major indices reach new lows. This doesn’t necessarily mean we haven’t bottomed, but it does mean it’s not yet a high probability entry point. Can’t argue…
Ultra short is oversold again. Short term is neutral. Likely just lagging the rally from early last week. Medium term is oversold. Long term is neutral to slightly overbought.
Ultra short term surprisingly hasn't reached levels from late 2018 yet. That said, very oversold. Short term is oversold and nearing 2018 levels as well. The biggest surprise is given how swift this move is that the medium term indicator really isn't even close to being oversold yet. This is typically my best indicator for...