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McClellan Oscillator & Summation Index The explanation of these indicators has been moved to the "Market Review" page (go to "Market Review Chart 2" for a current chart and explanations, but read the rest of this first). This page and chart remains primarily to make the following point In the chart, the McClellan Oscillator is hovering at about 150 and the Summation index has been climbing for awhile. Note that the Summation index is also approaching the approximate level of its previous high. The fact that the McClellan Oscillator is at a level that has turned the oscillator back in the past is also suggesting that the market is nearing a top. However, the expected decline of the oscillator from the 150 level does not necessarily mean we will have a severe decline in the market. The market's decline could actually be quite modest. Also, the decline may not be immediate. The action of the Summation Index is still very positive. Our disciplines monitor the status of the market. Look at the "Market Review" page and you will see charts for the McClellan Oscillator and Summation Index there. Our disciplines and/or strategies do rely on all the indicators in the "Market Review" to comprehend the market and to establish the context or environment within which our disciplines will operate. Strategies must be different in a bullish environment from those in a bearish environment. ~ Dr. Felt
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