NYMO NYSE McClellan Oscillator Daily Chart Shows Markets At or Near a Top

The chart shows that the last day of the year, 12/31/12, at -40, marked a bottom and the large upside equity rally began. Market bottoms occur under -40.  Market tops occur above +40.  The NYMO begins the new week at +56 which is at the September market top high. Time to watch for a market reversal, even if it is not today, that would mean the NYMO likely inches up a bit more, which only makes it more prone to reversing the higher it goes. Projection is for a drop in the NYMO corresponding to the markets selling off to take a rest from the large upside orgy last week.  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 1/8/13 at 5:48 AM:  The broad indexes sold off yesterday, to no great extent, simply a downward bias thru the day. The NYMO dropped to 40.62. Thus, for Tuesday, either the markets continue lower and the 56-ish reading above identified a market top, or, the broad indexes bounce higher and send the NYMO up for one more spurt higher in the high 50's or 60's, where the roll over will occur.