Scott Schlegel’s Stock Market Indicators – April 26th, 2020

Here are the latest readings from my stock market indicators as we approach the best 7 day monthly cycle in the historically strong month of April.

Ultra short term is lagging previous highs, indicating some slowing of strength across the broader market, and is in overbought territory.
Short term is slightly overbought and significantly lagging recent highs.
Medium term is overbought.
Long term is finally oversold. This lagging indicator turned out largely useless in trying to tag the recent bottom in stocks as the “V-Shape” bounce took off way before this hit bottom.