Wednesday, July 5, 2017

NYMO NYSE McClellan Oscillator Daily Chart

The NYMO refuses to move lower to create an attractive bottom in the stock market. Going long is of no interest until the NYMO drops to sub -30 and preferably lower. If the NYMO drops to -30 and -40, you can begin nibbling on longs. For now, the bulls maintain buoyancy in the stock market as evidenced by the buoyancy in the NYMO. The March low was a wash-out for stocks that began the start of the rally for April-May-June. If the NYMO runs above the +30 to +40 area and higher with a stock market rally over the next day or two, that will be an opportunity to bring on or increase shorts. 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.

Note Added Saturday, 7/8/17: The NYMO comes down to print at -30 but still does not print in the -32 to -100 range as yet. On Friday, NYMO bounces to -17. The beat goes on.

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