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Scott Schlegel’s Stock Market Indicators – December 30th, 2019

30 December 2019

Hey everyone. Hope your 2019 was enjoyable. Here are the latest readings from my proprietary stock market indicators that correctly identified a tradeable bottom last December.

The ultra short term is slightly oversold as it has shown weakness the last two trading days. By no means is it extended to the downside although it has reached levels no seen since early December 2019. and prior to that December 2018.
Short term oscillator is neutral. Its recent non-confirmation peak is a bit of a disconnect from the S&P.
Medium term is slightly overbought and is continuing to lag behind the S&P’s recent historic rise.
Long term is slowly rising above neutral at this point in an extreme disconnect with the high in the market. Previous times this has occurred have indicated peaks, but not always right away as is shown from 2012 to 2015 and in 2017 to 2018.

It’s becoming clear that fundamental measures of the economy don’t matter as much to stocks as the expansion of the monetary base does.

After the monetary base shrank in 2018, stocks fell. After rapidly expanding in 2019, stocks rose. Following?

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