NYMO NYSE McClellan Oscillator Daily Chart

The NYMO shows that it is premature for the broad markets to bounce like they did today. Market bottoms occur under the red line so more market downside is needed at least until the NYMO prints down towards -40 and lower.

We have been watching for the +20 level to fail to indicate market weakness ahead and this occurred.  McClellan Oscillator shows the market bottoms occurring at the red line or lower. Double red cirlces are significant broad market bottoms. Above the green bar is solid bull markets with the double green circles identifying significant market tops.

Projection is for the broad markets to sell off until the NYMO prints under the -40 red line and then the markets will prepare to bounce. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.