Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Monday, September 10, 2012
NYMO McClellan Oscillator Daily Chart
The green circles show the recent market tops and the red circles show the recent market bottoms. As a general rule, when above 20 look for a market reversal to the downside. When below -25, look for a market reversal to the upside. This chart moves against the grain of the current market consensus, which is uber bullishness. At 35.40 and higher, the NYMO says a market top is at hand now or soon. 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.
nice post, and I think after two big up days, a down draft is what is needed. I live your NYMO chart but.
ReplyDeleteThe guys I love to follow THE SENTIMENT TRADER have a lot to say at the moment and are pretty accurate and saying that Monday should see a bit of red.