Scott Schlegel’s Stock Market Indicators – 5/2/2020

Hey everyone – here are the latest readings from my stock market indicators. Nothing super consistent out of these – some overbought and oversold. Gold and gold stocks have been fairly resilient lately in spite of huge increases since their March bottom.

Ultra short term is back to oversold conditions after two distribution days at the end of last week.
Short term remains slightly overbought and is slightly lagging .
Medium term is extremely overbought indicating lower likelihood of positive returns for most stocks going forward in the medium term.
Long term is oversold.