NYMO McClellan Oscillator Daily Chart

NYMO is up to 30 so check it tonight (it is an EOD (end of day) number) to see if it prints above the important +40 level to indicate a market top at hand. Stocks can still play around at elevated levels for four or five days but a move above +40 will set the wheels in motion for a stock market top either later this week or next week. Keep an eye on it. 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 8:15 PM EST Wednesday Evening: The NYMO spikes higher as stocks rally printing 62.06 above all the tops shown in the chart above except for last October. A near-term market top is at hand and will occur any day forward. Note the last couple tops were a down-up-down jog move. So markets may sell off tomorrow or for a day or so, then recover to print new highs in the following day or two and then collapse lower. The other alternative is that stocks simply begin selling off from here beginning tomorrow or Friday. At any rate, the NYMO above 62 tells  you that you do not want to be putting long trades on now; it is risky chasing stocks higher since there is plenty of downside now on the table.