Long term is still not oversold by previous historical standards. Note that this typically is a lagging indicator. Medium term is slightly oversold. Oddly, S&P-500 has made new lows but this indicator has not. It might be seen as a positive sign. Short term has bounced a little and is slightly oversold. Ultra Short term…

Ultra short term suddenly has plunged to very oversold. Short term is still neutral. Unfortunately, that means there is room to fall on this one if the market should go that way. Medium term is neutral. I’m struggling to understand why this recent rally in the indices have failed to bring this up very much….