Scott Schlegel’s Stock Market Indicators – July 19th, 2021

Ultra short term is getting extremely oversold
Short term is very oversold
Medium term is slightly oversold
Long term is very overbought
Here’s one of the other new indicators I’ve begun to track. It’s below the lows since I started tracking it last summer. On one hand, it indicates that since February 2021 that there are less leaders in the market as the indices climb higher. This could lead us to believe that the indices will either correct from here, OR, oddly that we’re near a tradeable “bottom.”