The broad stock market is in a very difficult spot to be initiating new positions. Please observe the chart of the S&P 500 Index (SPX) below. Frankly, we are hard pressed to provide a clear view of the stock market’s next move. Coming off yesterday’s extremely weak day, SPX closed just under its 200 day […]
We’ve touted the McClellan Oscillator here in the past as one of the most reliable indicators of bottom reversal levels. We’re posting the chart below to alert traders that the oscillator is approaching the current extreme level of -204.00 (revised from -180.00). Those who need more proof of the McClellan Oscillator’s validity can look back […]
Please observe the chart below. Those who have followed us for some time know that we view the McClellan Oscillator as a reliable indicator. The green circles highlight each time McClellan has hit our oversold level at -204. Green circles on the price chart highlight the corresponding point of each McClellan signal. In each instance, […]
An updated chart of the S&P 500 Index (SPX) and the McClellan Oscillator is pictured below. The red circle highlights the latest reading of the McClellan Oscillator. Our readers know by now that we look for a reading under -180.00 to declare SPX “oversold”. McClellan still has a ways to go before bulls should begin […]
The S&P 500 Index (SPX) is at a cross road as described below. Several conflicting indications are prevalent on the daily chart of SPX. In the bullish camp, it’s possible that yesterday’s re-test of the ascending channel’s 50.0% level may prove to be the second leg of a double bottom. If this were the case […]
Heads up on the current location of the NYSE McClellan Oscillator which is pictured below. It’s been four months since the McClellan Oscillator reached the -180 (or lower) level. The last six times the oscillator came within a reasonable distance of the level are highlighted in yellow versus the respective points on the daily chart […]
Heads up for FOMC minutes at 2:00 pm today, along with the McClellan Oscillator reading on the chart below. We’ve discussed the McClellan Oscillator here a good number of times and it’s time to bring it to reader’s attention again. On yesterday’s sell off, McClellan reached the area of recent levels around 160.00 (yellow highlight). […]
The following chart of the S&P 500 Index (SPX) is offered as an add on to the latest ShadowTrader Video Weekly by Peter Reznicek found here. The magenta circle on the chart above encompasses the support levels of the SPX that could come into play this week. As price moves this week, we will also […]
The combination of the oversold indications provided in today’s Sector Trend Scores section, and the status of the McClellan Oscillator pictured below has us expecting a reversal as soon as within the next 2 trading days. We’ve discussed the reliability of the McClellan Oscillator in past posts and highlighted examples of positive signals with green […]
First we’d like to mention that the McClellan Oscillator reading discussed in the May 16 post officially signaled oversold yesterday with a move below the -180 level on the TOS platform. In addition, our proprietary measure of broad market money flow has seen a little bullish divergence over the past five days (although modest) while […]
The McClellan Oscillator is likely to provide the best indication of a market reversal this week. Please observe the chart below. While the S&P 500 Index (SPY) approaches the bottom of the short term channel, the McClellan Oscillator is inching its way toward an oversold reading which we have found to be -180 on the […]
Good morning traders. We’ve featured the McClellan Oscillator in a number of previous posts. The indicator has proven itself to be one of the most useful and is difficult to ignore. We’ve gleaned some insight from its current reading on the chart below. The red circles highlight the last three lows of the S&P 500 […]
Good morning traders. One is hard pressed to find indicators not pointing to oversold, including the McClellan Oscillator. Please observe the chart below. We are now looking to take advantage of a market that is quite stretched to the downside. Our target on the S&P 500 Index (SPX) for a bounce back higher is the […]
Good morning traders.There is no doubt yesterday was a tough one for the bulls, but Kate Smith hasn’t sung just yet. Please observe the chart below. Each of the twelve green circles on the lower McClellan Oscillator study represents a point within the last two years when the indicator registered a reading […]
