Thursday, July 11, 2013
NYMO McClellan Oscillator Signals Market Top
The NYMO chart was posted a couple days ago. Type 'NYMO' into the search box at the right to bring that chart up for further study. Over the last year, the major tops are identified by a move above +60 while the major bottoms are under -90. With today's upside orgy, the NYMO is now at 70, very elevated. The RSI is not overbot but notice how it does not tend to be overbot on this chart so RSI is at a pseudo overbot level right now. The MACD line and RSI may squeeze out a bit more juice, so it may take a day or three to top and collapse, say into early or middle of next week, but the NYMO is saying the markets are at a top now and another move down like the moves down last September-October, and the May-June selloff, is at hand at any time forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.