I created this indicator as a combination of the following indicators. It is currently neutral. There is no “weighting” built in. All time frames are treated equally. Long term remains slightly overbought. Medium term has quickly declined into slightly oversold territory. Short term is oversold, but can go a little lower.
Long term remains off highs showing lack of breadth on the latest strong market move by the S&P and Dow. Medium term remains off highs and is only slightly overbought. Short term is declining and off recent highs. It is only slightly overbought.
Short term is slightly above neutral. Long term is slightly above neutral. Values are still lagging previous highs, which contradicts the action of the major indexes. Medium term remains slightly overbought, and has declined for the past week.
Long term is off highs which shows lack of stock market breadth and is getting back into overbought territory. Medium term is overbought and declining. Short term is back to neutral.
Short term is declining back to neutral. Long term is slightly positive. Heavily lagging recent highs despite the Dow being at new highs. Medium term is slightly overbought and is once again lagging values achieved the last four years. The McClellan Summation index continues to trend upwards so staying long until that reverses may…
Long term is bouncing from neutral levels. Medium term indicator is nearly overbought. Short term is overbought, but it’s off highs.
Long term is neutral. Short term is near overbought levels, and a bit lower than the high it made last week. Medium term is back into positive territory, but is not yet overbought. This V bounce makes the major indexes look like they are trading like penny stocks. Notice the significant lagging of my…
Long term is right about neutral. Lowest level since June 2012. Medium term is heading back into positive territory. Short term is declining from overbought levels. McClellan summation index continues to trend upwards. Stay long until it reverses.
Long term is nearly at 50% for the first time since June of 2012. Medium term is bouncing from oversold levels. Short term is again overbought. Crazy how much of a difference three days makes. This move looks unsustainable in the short term.
Long term is nearly back at neutral. Short term is back into positive territory for the first time in almost two months. Medium term remains oversold.