07 Oct State of the Market – 7 October 2014
Posted at 20:19h
in Uncategorized
Long term remains overbought. Medium term is oversold. We need to see this indicator build on itself (a higher low than a recent low) before we commit to getting long.
Short term is slightly off oversold levels.
Percent of stocks above 200 day moving average near three year lows. The only time it was below this level was 2008 and early 2009.
McClellan back at levels not seen since 2011/2012. The only time it went lower than here was in 2008.