Scott Schlegel’s Stock Market Indicators – January 20, 2019

Ultra short term is lagging its recent peak. Slightly overbought at this time.
Short term has temporarily diverged from the S&P. It is not overbought.
Medium term is extremely overbought. After coming back off of the worst readings in a decade.
Long term is finally oversold. Surprisingly given this was the worst correction since 2008 this indicator hasn’t made new lows. That could mean a test is in order.