NYMO McClellan Oscillator Daily Chart Preparing for a Market Bounce

NYMO was beat down to the -87 after the large sell off today and is now in territory where a market bounce would be expected.  If NYMO drops under -100, shorts need to be covered and longs bot. Note during the early August selloff a stutter step sideways occurred, at this same -85 ish level before the final flush down.  Interesting indeed.

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. 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.