06 Oct Scott Schlegel’s Stock Market Indicators – October 6th, 2019

Posted at 19:35h in Uncategorized by

Here are the latest readings from my stock market indicators. Caption beneath each image and summary at bottom.

Ultra short term is overbought
Short term is oversold
Medium term is slightly oversold.
Long term is potentially nearing a roll over. It is neutral which reflects plenty of lingering weakness in the market which is near all time highs.

In summary, due to the conflicting readings from most of the indicators, it is not a great time to enter the market. For a short term entry, last week’s extremely oversold UST indicator provided a decent buying point. Typically, we should see UST, ST and MT nearing lows at great buying points. Long term is a bit lagging, but can also identify oversold points such as last December.