Scott Schlegel’s Stock Market Indicators – February 27th, 2020

Ultra short term surprisingly hasn’t reached levels from late 2018 yet. That said, very oversold.
Short term is oversold and nearing 2018 levels as well.
The biggest surprise is given how swift this move is that the medium term indicator really isn’t even close to being oversold yet. This is typically my best indicator for identifying fairly significant bottoms. This means that while stocks may bounce in the short term there still will likely be lots of settling out before this makes a proper bottom.
Long term is nearly overbought. Again, lots of catchup to do for this indicator.