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Posts Tagged ‘McClellan Oscillator

NASDAQ McClellan Oscillator ($NAMO)

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NAMO090805The NASDAQ McClellan Oscillator, a short term breadth indicator, began a downtrend on Wed. Whether this turns into a sustained move lower remains to be seen, but it is an early warning sign that you should be aware of.

To my dismay, I was stopped out of one of my favorite leading stocks, STEC. Weakness in a market leader is never a good broad market sign, so I’m growing a bit wary of more bullish proclamations.

Though the trend is technically higher, it is likely that I will be cutting any positions that are underwater and raising my stops to protect my gains. Tops and bottoms take days, weeks and months to form, so I’m not selling the farm yet. Trade what you see, not what you think.

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Written by chucklesamadeus

August 6, 2009 at 9:32 am

NYSE McClellan Oscillator ($SPY)

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NYMO090624The best market news I’ve seen is the positive move in the NYSE McClellan Oscillator. This is a very handy short term indicator, and it is saying we have more bounce on the way. It remains below the zero mark so I’m not in a rush to get invested, but I’m getting less cautious about the short term trend.

Written by chucklesamadeus

June 24, 2009 at 9:33 pm