Tom McClellan
Technical Analyst and Editor at McClellan Financial Publications
Technical Analyst - Editor of The McClellan Market Report. Trying to figure out stock market physics, and to leave my campsite cleaner than how I found it.
Articles
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1 week ago |
mcoscillator.com | Tom McClellan
At the bottom of the "Liberation Day" Trump Tariff Crash, sentiment was very bearish with a lot of options traders favoring put options versus calls. That sent the 5-day simple moving average of the daily Put/Call Volume Ratio to its highest reading since August 2024, which was when a rate hike by the Bank of Japan scared everyone by disrupting the "yen carry trade".
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2 weeks ago |
mcoscillator.com | Tom McClellan
The price low on April 8, 2025 was unusual because it coincided with the highest reading for stocks making a new 52-week low on the NYSE. Usually the number of New Lows peaks before the final price low. One point that is important to understand about the data for New Highs and New Lows is that the calculations employ intraday extremes.
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3 weeks ago |
mcoscillator.com | Tom McClellan
By now I hope that all of my readers are already familiar with the McClellan A-D Oscillator, the famous indicator that my parents Sherman and Marian McClellan created in 1969. I want to talk in this article about a derivative indicator related to the Oscillator. This week's chart shows a plot of the daily value for Advances minus Declines (A-D) that would be needed to take the Oscillator exactly to zero.
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4 weeks ago |
mcoscillator.com | Tom McClellan
When we talk about the McClellan Summation Index, we are usually referring to the version of it calculated on NYSE Advance-Decline (A-D) data. But it can be calculated on any type of breadth data. Whether such an alternative is useful is a separate question. This week's chart looks at the Ratio-Adjusted McClellan A-D Summation Index for the Nasdaq. It is noteworthy right now because it has gotten down to a very low level, below -1000, and turned up.
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1 month ago |
mcoscillator.com | Tom McClellan
President Trump's new Department of Government Efficiency (DOGE) is attempting to find wasteful spending and other problems throughout the federal government. We are not yet 3 full months into the current presidential term, so it is hard to know exactly what successes they may be having. But there are already some signs of lowered spending. Every month, the Treasury Department publishes its Monthly Treasury Statement (MTS), detailing broad monthly numbers on tax receipts and federal spending.
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The Nasdaq 100 Index is down just 9.5% from its all-time high, made on Feb. 19, 2025. But the average NDX component (through May 7) is down 23.4% from its own 52-week high. https://t.co/dcpZlNanWR
46% of the NASDAQ 100 made a new 1-month high today. Strong numbers for the S&P indexes too. 42% of the S&P 500. 45% of the S&P 400. 38% of the S&P 600. 🐂 https://t.co/tNddodv2Ug https://t.co/ntMMae4DfA
Saying this another way, when a person buys a stock, he thinks he is forming a relationship with that company. So he wants to know everything about that company, what they sell, what their earnings prospects are, where the CEO went to school, etc. But the more important
There may be no more important time in the markets to keep in mind that it isn't what you think that matters as much as what others think about what's in your portfolio. At the end of the day, your price reflects their feelings.
The small "non-reportable" traders of US Dollar Index futures are now net short as a group, expecting more downward movement. They almost never go net short, and when they do it does not usually work out well for them. https://t.co/6JyBHyOlfl
