14 Sep State of the Market – 14 September 2014
The McClellan Summation index has entered a downturn. The RSI remains overbought which leads me to believe there is plenty of room for it to fall. The divergence between this peak and previous peaks shows some underlying weakness in the stock market.
Long term remains elevated, but off it’s peak value which again, shows some underlying weakness.
Medium term is slightly under neutral territory. This also reflects some weakness.