18 Oct Scott’s Stock Market Indicators – 10-18-2018

Long term is neutral.

Medium term is quite oversold but not at a max. Typically the broad indexes don’t bottom until this indicator bottoms and then makes a higher bottom. So we could have quite a ways to go since we haven’t seen the first bottom yet, but it could be in the process of forming.

Short term is slightly overbought.

Ultra short term was overbought and is now back to oversold. Major whipsaw.