Positive McClellan Oscillator Signal

Positive McClellan Oscillator Signal

The McClellan Oscillator measures breath by subtracting the 39-day exponential moving average of NYSE net advances from the 19-day exponential moving average of NYSE net advances. Over the last five months the indicator has touched or nearly touched the -60 level, and each time it has been an oversold reading that was followed by a rally in the stock index. It is very close to that level once again and this morning we are seeing strength in the futures.

77728.McClellanchart