NYMO McClellan Oscillator and NYA NYSE Composite Daily Charts

The NYMO remains at lofty levels consistent with stock market tops (green circles). Red circles indicate market bottoms. NYMO has basically not been below 0% for a month so it will need to mean revert. A sturdy tradeable bottom has not occurred since the late March bottom with NYMO printing below -40 to prove that stocks washed-out. So now is the time to favor the short side and not consider longs until the NYMO comes down and prints below, say, -30 and lower.

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