Scott Schlegel’s Stock Market Indicators – 12/31/18

Here are the latest readings from my stock market indicators.

The Ultra Short Term indicator is overbought and slightly lagging the peak it made last week.
Short term is slightly overbought. In positive news it is higher than levels achieved during the last bounce. This shows the current rally has a little better breadth than previous.
The Medium Term Indicator is at oversold levels only seen a few times during the last decade. Unfortunately in 2008, stocks resumed their decline after a short bounce when this indicator initially reached oversold levels.

Long term indicator is still heading towards extremely oversold levels. This is a lagging / coincident indicator.