EL Stock Market Timing Indicators Moderately Bearish as of Sepember 18, 2020

The  Seven
Economic  Logic 
Stock  Market 
Timing  Indicators,
as of September 18, 2020:


Indicator  Total  
-1.5   =   Moderately Bearish  
( was -1.0  Neutral August 21 ) 
 ( Range is -7 to +7 )



The  Seven  Indicators:

    Short  term  indicator                              
(1) AAII  Sentiment  Ratio
---   Moderately Bullish
At 41.0% bullish for the
9/16/20 four-week average


    Medium  term  indicators 
(2) Election  Year  Cycle
 --- Bullish
From June 2020 to June 2021


(3) Seasonality  Cycle
--- Bearish
From May 2020
through October 2020,
 then bullish for six months.


(4) Corporate  Insiders
--- Bearish
Very few large buys
in the past month


(5) Federal  Reserve  Policy
 --- Bullish
After a huge expansion
of Federal Reserve Credit
and the M2 money supply


    Long  term  indicators
(6) S&P500  Price/Sales  Ratio
--- Bearish
At 2.36x on September 18, 2020


(7) S&P500  Dividend  Yield
 --- Bearish
At 2.1%, assuming dividends
= 50% of 139.27 
S&P500  2019 earnings


For  the  Indicator  Total:
+3  to  +7 = Bullish
+1,5  to + 2.5 = Moderately Bullish
-1  to  +1 =  Neutral
-1.5  to  -2.5 = Moderately Bearish
-3  to  -7 = Bearish


For  an  individual  indicator:
Bullish = +1 point
Moderately Bullish = +0.5 points
Neutral = 0 points
Moderately Bearish = -0.5 points
Bearish = -1 point