Short term is getting back to overbought. Composite indicator is slightly above neutral. Long term is only slightly overbought.  It is definitely off highs which shows some weakness in individual stocks.   Medium term is slightly below neutral. Usually this chaotic behavior to either side is not a good thing.  We’ll see if the indexes…

Long term remains slightly overbought.  It definitely remains off of recent highs which shows some underlying long term weak trends established in some stocks. Medium term is slightly above neutral and has begun declining.   Short term is getting slightly oversold. The Adjusted Monetary Base has fallen significantly the past few months.  The image above…