The McClellan Oscillator Is Oversold Across The Board

SmartReversals
04-17

The McClellan Oscillator continues at levels not seen since the bottom of the 2022 bear market (-122 for $S&P 500(.SPX)$ ).

Historically, this has triggered bounces. Also, the daily candle continues below the lower Bollinger Band, with a reversal shape as posted previously, still potentially signaling a reversal.

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Free publication with this oscillator analyzed for $S&P 500(.SPX)$ , $NASDAQ 100(NDX)$ , $iShares Russell 2000 ETF(IWM)$ , $NYSE(NYSE)$ and $DJIA(.DJI)$

*Is this signaling a new bearish divergence, similar to what we saw in October-November 2023?

*How significant are the moves in Small Caps?

*Is there an index showing signs of further decline in this oscillator?

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  • NewmanGray
    ·04-17
    The McClellan Oscillator can often signal potential bounces from these levels.
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