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State of the Market – 14 September 2014

14 September 2014

mcsum_14_sept_2014

The McClellan Summation index has entered a downturn.  The RSI remains overbought which leads me to believe there is plenty of room for it to fall.  The divergence between this peak and previous peaks shows some underlying weakness in the stock market.

lt14_sept_2014

Long term remains elevated, but off it’s peak value which again, shows some underlying weakness.

mt14_sept_2014

Medium term is slightly under neutral territory.  This also reflects some weakness.

st14_sept_2014Short term remains oversold.

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