NYMO McClellan Oscillator Signals Significant Market Top

Here we go again. Like Led Zeppelin says, 'the song remains the same'. We watched the NYMO chart a few days ago, and a few days before that as well.  Is the third time a charm?  Note the three tops in a row currently printing, each signaling a significant market top, but the central bankers will not allow markets to correct. Perhaps it will now no longer matter what the central bankers think and do?  Friday's print is 44.68 well into the range of signaling a market 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 +44.68, a significant market top is occurring right now.  There is very little ceiling height remaining for the NYMO. Projection is a market top in place now and a reversal in the broad indexes should occur moving forward perhaps beginning on Monday. Type 'NYMO' into the search box at the right to bring up the prior NYMO charts 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.