NYMO McClellan Oscillator Daily Chart

The red circles show market bottoms, the green circles show market tops. Double circles are more significant bottoms and tops.  Note that below -40 and the markets are on notice that a snap back rally should occur.  Conversely, above +20 and the markets are in position to experience a sell off. At 40-ish now, markets are agreeable to a sell off occurring.

Note the red line across the two price highs over the last week or so. If you bring up the NYMO charts yourself and study the indicators, you will see negative divergence, which further forecasts that a spank down should occur.  Even if markets decide to go up from here, that would only increase the pressure for the maket to snap back down.  The NYMO was higher than now only three prior times over the last half year, and those times resulted in market selling.  NYMO is indicating that a pull back in the markets should occur at any time now. This information is for educational and entertainment purposes only. Do not invest based on anything you read here.  Consult your financial advisor before making any investment decision.