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DJIA At Higher Highs with Negative McClellan Oscillator

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The McClellan Oscillator went below zero back on Feb. 14, and has remained negative ever since. But that has not stopped the major averages from moving up to new multi-year highs.

 

Having the Oscillator drop below zero can sometimes be seen as a "sell signal", but it depends on what else is happening in the market. It is certainly not a positive factor to have higher price highs appear while the Oscillator refuses to confirm that strength.

 

You can see in this week's chart that some of the instances of a higher price high with a negative Oscillator reading have marked really important tops. Other times, though, these instances have not stopped the market's advance. So like the Hindenburg Omen, this occurrence serves as a warning of trouble, but not a guarantee that a top is in.

 

 

 

 

 

Click here 4 more

 

 

 

 

Negative_Osc_New_DJIA_High.gif

 

 

 

 

 

RASI_84-96.gif

 

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