Sunday, October 11, 2015
NYMO McClellan Oscillator and NYA NYSE Composite Daily Charts
The McClellan Oscillator declares bullish markets above the zero line (green circles) and bearish markets below (red circles). Last week results in a strongly higher multi-month high. Prior highs (bright red dots) occur at near-term market tops. It appears that much of the strong rally has ran its initial course.
The dark red dots show when the McClellan drops under the zero line signaling bearish markets ahead. The green dots show where the oscillator moves back above zero signaling happy bull times ahead. The NYA chart shows that you are well-served to follow the indicator. Right now, the potential for a near-term top is in play, however, the firm sell signal will not occur until the oscillator falls under zero. 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.