Thursday, May 7, 2015

150507-McClellan Ossicilator Update

The market bounced off of yesterday's oversold levels in the McClellan Oscillator. At the worst part of the day yesterday SPX was down to the -3 STDEV Bollinger Band and bounced. However the chart, and the daily candles don't look like this the market is forming a bottom here. At best I would expect the SPX to test the 200 day moving average which is 3% below today's close.
Cycle Update

2 comments:

Anonymous said...

George,
Long time no post! Are you back, or is this just a teaser?
Russ

pranjali upadhyay said...
This comment has been removed by a blog administrator.