At medium term crossroads... market at overbought

Have been busy since my last post back in early October last year. As the chart below shows, there were two 'minor' medium term signals around Nov./Dec. and January. The stock market is still higher than my last call for a medium term rally in early October. Right now we are close to or at medium term overbought and would expect mostly weakness in the individual stocks in the coming weeks. The major indexes (Dow, SP500, Nasdaq, Nasdaq 100) could follow along with weakness too or they could continue to slowly grind higher for several more weeks before turning sharply down. Good time to start placing sell stop orders or/and shift to selling individual stocks into small positions in the major index ETFs if one decides to take the risk for more upside.