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….
Ultra short term is nearing overbought. Its recent bottom should indicate a tradeable bottom barring any abrupt political or credit market changes. If short term’s decline ceases here, its positive divergence is a positive sign for a tradeable bottom. Medium term is in an uptrend. Hopefully the divergence between this peak and the other isn’t…
Ulta short term is overbought
Ultra short term higher than previous bottom. Different from behaviour of major indices showing some inefficiencies. Same for short term. Same for medium term. This indicator could go lower though. Long term we are still pretty overbought. To get a feel with for how extended this fall is on the McClellan Summation Index, I applied…
Long term is neutral. Medium term is quite oversold but not at a max. Typically the broad indexes don’t bottom until this indicator bottoms and then makes a higher bottom. So we could have quite a ways to go since we haven’t seen the first bottom yet, but it could be in the process of…
Medium term still has some room to fall to reach oversold levels. Short term is oversold, but not extremely oversold. Ultra short term is very oversold. Not a record albeit close.
Oddly long term is declining while S&P is not. Medium term is slightly oversold. Short term is slightly oversold. Ultra Short Term is slightly oversold.
Medium term is oddly neutral while the major indexes march higher. Today a lot of the weakest stocks finally rallied strongly. This is usually an indicator of a soon reversal of trend. Although this could reach a fever and march on a bit further before a fall. Short term also neutral. Ultra short term reaching…
Medium term slightly overbought. Seems to be breaking down at a lower point than previous highs. Short term is slightly oversold and appears to be close to breaking out of the uptrend that started in February. Ultra short term commentary matches that of the short term indicator.