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