Sunday, February 16, 2014

16 Feb 2014

 Long term very overbought.
 Medium term still bouncing.  Not yet overbought.
Short term slight decline from overbought levels.

This will likely be my last post for 2 weeks as I will be busy with other stuff.  Keep your eye on the summation indexes in the meantime.

Thursday, February 13, 2014

13 Feb 2014

 Long term remains overbought.
 Medium term back positive. Soon to be overbought.
Short term is very overbought -looks like a top 6 reading from the last 3 years.

Sunday, February 9, 2014

9 Feb 2014

 Long term remains very overbought.
 Medium term is slightly oversold.

Short term back into positive territory.  Not yet overbought.

Thursday, February 6, 2014

6 Feb 2014

 Long term remains overbought.
 Short term is rallying from oversold conditions.
Medium term will follow short term.  It never reached extremely oversold conditions which leads me to believe the next bounce may not be sustainable.

Wednesday, February 5, 2014

5 Feb 2014

 Long term still overbought
 Medium term partially oversold.  Still in line with increasing trendline of previous lows since 2011.
Short term oversold.

Tuesday, February 4, 2014

4 Feb 2014

 Long Term overbought.
 Medium term becoming slightly oversold by the last year's standards.
Short term bounced a little.

The summation index has shown persistent deterioration since early 2012.  The long term RSI (bottom) is not yet near a spot where we would expect a significant trend change.  Moreover, the index itself has not formed anything resembling a bifurcation point.

Monday, February 3, 2014

3 Feb 2014

 Remains oversold in short term.  Lower than previous "low" - signifies weakness.
 Long term is still very overbought.  This is troubling.
Medium term is only slightly negative.  Plenty of room to fall before becoming oversold.