Scott Schlegel’s Stock Market Indicators – 8/27/18

Here are the latest readings from my stock market indicators.

Ultra short term indicator is slightly overbought and lagging the S&P in term of new highs.

Short term indicator is also slightly overbought and oddly declined showing some inconsistency from the mainstream indices.

Medium term is shockingly low for the major indexes making new record highs. Either this means there are stocks that aren’t overbought providing plenty of fuel to keep the rally going, or there is some decay behind the pretty veneer which will eventually lead to declines in most stocks and the indices.

Long term indicator shows a good amount of stocks still aren’t in long term uptrends.

We’re at the strongest point in the month for the indices. So perhaps this strength will last through the 3rd or so. Maybe we’ll get some asymptotic blow off and while it may look fun, it can end quickly.