13 Oct 2013

 Long term overbought.

 Medium term neutral.

 Short term becoming overbought.

Shortest term (top) already overbought.  Composite indicator actually at a spot that has found support during the rallies since 2009.

"Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans."
R. H. Tawney, Religion and the Rise of Capitalism, 1926