NYMO NYSE McClellan Oscillator Daily Chart

The NYMO chart displays historic behavior. The oscillator does not want to come down since the stock market does not want to sell off either. Stocks remain elevated based on Trump providing lower taxes, less regulation and huge infrastructure spending. Every day is a party.

You do not want to own stocks on the long side until the NYMO comes back down and prints sub -30; that will at least help set up a tradeable bottom making long plays attractive. The long side for stocks is not attractive right now. 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.