NYMO (McClellan Oscillator) study

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Looking at the NYMO might give us clues on what to expect next. First off, I’ve drawn horizontal lines (+60 red; -60 green) that have over the last year coincided with good sell and buy opportunities, respectively. On Thursday 7/17, NYMO bottomed at -64 and reversed yesterday. That suggests a good buying opportunity in itself. However, if we look at august/september of last year we can see that the NYMO bottomed below -60 and reversed, but the SPX kept on declining, setting up good + div. In addition, now we have had NYMO declining while the SPX kept climbing: -div. If Thursday was a meaningful bottom, then price is still in intermediate iii and likely still in minor 5…

nymo 07192014

 

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