NYMO McClellan Oscillator Daily Chart Signals Significant Market Top

We watched this chart late last week as the 36-ish printed signlaing a market top but the bulls have managed to jog the NYMO for a higher high print.  All this does is more firmly place a top. The red circles show the market tops and green circles show market bottoms. The double circles are key reversals.  What do you think will happen?  Market bottoms occur when the NYMO drops under -40. The important mid-November bottom occurred at -90, once that hit it was a key indicator to use to feel comfortable buying the market long. Likewise the other green circles.  Market tops are signaled when NYMO moves above the +30 or +40 level, however, the tops have gotten sloppy over the last months.  Note that tops are now occurring from about +10 and higher. The central banker intervention creates distortions in all markets these days and may be the cause of tops occurring at lower NYMO levels.

Nonetheless, at +43, a significant market top is occurring right now.  A spurt higher occurred as compared to three days ago, and now there is very little ceiling height remaining for the NYMO. Projection is a market top is forming now and a reversal in the broad indexes should occur moving forward perhaps beginning tomorrow. Type 'NYMO' into the search box at the right to bring up the prior NYMO chart for additional study. 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.