30 Sep State of the Market – 30 September 2014

Long term remains very overbought. Medium term is slightly oversold.  The fact that it’s lower than its previous low should be considered negative.Short term is slightly bouncing from oversold levels.

McClellan Summation Index is showing persistent weakness.

Cumulative Four Week New High – New Lows has also been declining and surpassed its recent low while the Dow and S&P remain above that point.

The Dow and S&P-500 continue to not reflect the weakness in most stocks.