Here are the latest readings from my stock market indicators. Not a whole lot of change since the last post.
The medium term indicator is oversold. Not extremely oversold, but oversold nonetheless. Not a good time to be entering short sales. We need some more confirmation on this before entering long positions.
Short term is oversold and is at the most recent low.
Long term is getting oversold again. We’ll have to see if this breaks the recent low or not.
I also monitor treasuries. The long term Treasury ETF (TLT) seems to have broken out of a descending triangle to the upside. If this breakout continues to hold, it indicates some serious flight to safety.