SP500 McClellan Oscillator Update-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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SP500 McClellan Oscillator Update

SmartReversals
05-24

Since last week, I've been highlighting the divergence between the $S&P 500(.SPX)$ price and the McClellan Oscillator. The Oscillator's continued decline after reaching 70 and today's price action (bearish engulfing candle) suggest a local top may be in.

Yesterday's post also pointed out this divergence. While I initially thought Tuesday's choppy action might resolve north due to a lack of resistance (my capitulation), the 5DMA served as a key support level if thing were to move south. The break of this line at 1:45 PM prompted me to wait for consolidation and share the updated market context at 2 PM.

The recent jump in DXY (dollar index), TNX (10 yr treasury yield), and $Cboe Volatility Index(VIX)$ (volatility index) was warned last Sunday🎯 in Newsletter.

Why a Local Top and Not a Crash?

Even with a continued decline, the McClellan Oscillator is likely to reach oversold territory soon if prices keep plummeting. Today's SPX fell 0.74% and the Oscillator is at -44 already.

Publication for everyone is out.

Image

https://x.com/SmartReversals/status/1793777115478823001

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BrianWashington
·05-24
Interesting analysis!
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The Oscillator's continued decline after reaching 70 and today's price action (bearish engulfing candle) suggest a local top may be in.</p><p>Yesterday's post also pointed out this divergence. While I initially thought Tuesday's choppy action might resolve north due to a lack of resistance (my capitulation), the 5DMA served as a key support level if thing were to move south.  The break of this line at 1:45 PM prompted me to wait for consolidation and share the updated market context at 2 PM.</p><p>The recent jump in DXY (dollar index), TNX (10 yr treasury yield), and <a data-mention-id=\"VIX\" class=\"teditor-mention\" data-mention-name=\"Cboe Volatility Index\" href=\"https://ttm.financial/S/VIX\">$Cboe Volatility Index(VIX)$</a>  (volatility index) was warned last Sunday🎯 in Newsletter.</p><p><strong>Why a Local Top and Not a Crash?</strong></p><p>Even with a continued decline, the McClellan Oscillator is likely to reach oversold territory soon if prices keep plummeting. Today's SPX fell 0.74% and the Oscillator is at -44 already.</p><p>Publication for everyone is out.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/fc5ab305a46c79fe371d6f078ccf932e\" tg-width=\"680\" tg-height=\"502\"><span>Image</span></p><p>https://x.com/SmartReversals/status/1793777115478823001</p></body></html>","htmlText":"<html><head></head><body><p>Since last week, I've been highlighting the divergence between the  <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> price and the McClellan Oscillator.  The Oscillator's continued decline after reaching 70 and today's price action (bearish engulfing candle) suggest a local top may be in.</p><p>Yesterday's post also pointed out this divergence. While I initially thought Tuesday's choppy action might resolve north due to a lack of resistance (my capitulation), the 5DMA served as a key support level if thing were to move south.  The break of this line at 1:45 PM prompted me to wait for consolidation and share the updated market context at 2 PM.</p><p>The recent jump in DXY (dollar index), TNX (10 yr treasury yield), and <a data-mention-id=\"VIX\" class=\"teditor-mention\" data-mention-name=\"Cboe Volatility Index\" href=\"https://ttm.financial/S/VIX\">$Cboe Volatility Index(VIX)$</a>  (volatility index) was warned last Sunday🎯 in Newsletter.</p><p><strong>Why a Local Top and Not a Crash?</strong></p><p>Even with a continued decline, the McClellan Oscillator is likely to reach oversold territory soon if prices keep plummeting. Today's SPX fell 0.74% and the Oscillator is at -44 already.</p><p>Publication for everyone is out.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/fc5ab305a46c79fe371d6f078ccf932e\" tg-width=\"680\" tg-height=\"502\"><span>Image</span></p><p>https://x.com/SmartReversals/status/1793777115478823001</p></body></html>","text":"Since last week, I've been highlighting the divergence between the $S&P 500(.SPX)$ price and the McClellan Oscillator. The Oscillator's continued decline after reaching 70 and today's price action (bearish engulfing candle) suggest a local top may be in. Yesterday's post also pointed out this divergence. While I initially thought Tuesday's choppy action might resolve north due to a lack of resistance (my capitulation), the 5DMA served as a key support level if thing were to move south. The break of this line at 1:45 PM prompted me to wait for consolidation and share the updated market context at 2 PM. The recent jump in DXY (dollar index), TNX (10 yr treasury yield), and $Cboe Volatility Index(VIX)$ (volatility index) was warned last Sunday🎯 in Newsletter. Why a Local Top and Not a Crash? Even with a continued decline, the McClellan Oscillator is likely to reach oversold territory soon if prices keep plummeting. Today's SPX fell 0.74% and the Oscillator is at -44 already. Publication for everyone is out. 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