The Start or End of a Decline?

September 21, 2023

Ultra short term is oversold.

Short term is oversold.

Medium term is slightly oversold. The odd thing here is that the S&P is making new lows relative to the last decline, but the medium term indicator seems to reflect underlying relative strength to that point at this point in time.

Long term is neutral and in a positive note it is still elevated relative to recent cycle low.