NYMO McClellan Oscillator Daily Chart

The McClellan Oscillator remains elevated refusing to print under -30 for the last four months. The NYMO comes up to tag the upper standard deviation band. Price respects the bands moving from the lower band to the upper band and then back to the lower band and so on so a move to the lower band would be expected over the coming days say during the next week or two.

The elevated NYMO is indicating a stock market top is likely at hand. Stocks are not attractive on the long side until the NYMO prints in the green box. 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.