Scott Schlegel’s Stock Market Indicators – May 10th, 2020

Ultra short term is overbought
Short term is neutral heading to overbought if it’s following the shorter term indicator.
Medium term is extremely overbought.
Long term is oversold. Lots of stocks still haven’t
Amazingly, more stocks are above their 40 day moving average than at the all time high in the S&P.
The 200 day moving average tells a bit of a different story. This could be perceived as a positive (more room to run) or a negative (still lots of stocks in down trends).