Wednesday, December 11, 2013

NYMO McClellan Oscillator Daily Chart Sideways Symmetrical Triangle

The triangle drama continues for the NYMO. We have watched this for the last month. Bears should take solace with the successful back kiss that occurred over the last few days but need to push markets lower to take advantage of the open door. Markets are weak with a McClellan Oscillator under zero and bullish above zero. Markets start to top out when the NYMO prints +60, +80, +100 or higher, and moves back down to the zero line. Markets bottom when the NYMO prints -60, -80, -100 or lower and moves back up to the zero line. The bears have received the nod for the last month but the broad indexes move higher. More odd market behavior. The back kiss of the bottom rail of the sideways triangle was successful for bears but they must push markets lower immediately, otherwise, they will fold like a cheap suit and the bulls will send NYMO back above zero and keep the stock market elevated. 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.

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