McClellan Oscillator At Extreme

Discussion in 'Technical Analysis' started by Babak, Jan 7, 2009.

  1. Babak


    Holy cow!

    Has anyone else noticed that the McClellan Oscillators for both the Nasdaq and the NYSE are at all time highs (see link for graphs) - at least for this decade?

    Any ideas where there is data going back longer? FYI as long as it is ratio adjusted, it is ok to compare year to year, even going back a long time.

    I'm curious just how extreme this recent reading is.

  2. JCVR


    I read elsewhere that they are off at the moment because the moving averages they rely on are still factoring in the huge plunge from November. Once those fall off the back they will come down regardless of what the market is doing.
  3. Nanook


    Related article from Seeking Alpha:

    "I would take this chart with a grain of salt because over the years, a larger and larger portion of the issues traded on the NYSE is attributed to non-common stock securities like bonds, CEFs, municipal bond funds, preferreds, etc. But even so, the McClellan Oscillator is off the charts!"