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Big drop on NYSI......


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#1 hopoco

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Posted 13 February 2018 - 02:38 AM

On a market up day (Monday), look at the NYSI dropped -73%, it tells everything of the market breadth.

 

 

 



#2 NAV

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Posted 13 February 2018 - 06:03 AM

Good observation !

 

If we don't get a good breadth thrust on NYMO soon, the market will be in serious trouble.


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#3 fib_1618

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Posted 13 February 2018 - 07:57 AM

On a market up day (Monday), look at the NYSI dropped -73%, it tells everything of the market breadth.

 

 

 

Keep in mind that the McClellan Summation Index measures the trend of intermediate term market breadth. So very much like the up day as we had on Monday, the previous trending sequence of closes prior to Monday is still trending lower. But now that the McClellan Oscillator (the tool used to measure this same market breadth on a short term basis) has broken above "blip resistance" on Monday, we should see the MCSUM stall it's downside trend in the next couple of days.

 

Fib


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#4 Waver

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Posted 13 February 2018 - 08:21 AM

Fib, what is blip resistance?

Thanks in advance.

#5 fib_1618

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Posted 13 February 2018 - 09:41 AM

Fib, what is blip resistance?

Thanks in advance.

 

"Blip resistance" is my reference to any failed attempts to re-establish market control that then leads to further declines or advances.

 

So if you look at the MCO chart shown below, I have circled the recent failed attempts of which the one from February 1st has now been broken. This then informs us that not only are the price lows in for this specific sequence (due to the added trigger of February 8th's divergence), but by extension, the sellers no longer have full control of the price pattern sequence being measured.

 

Fib

 

nymo021218.png


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#6 CLK

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Posted 13 February 2018 - 10:22 AM

To me the summation is useless on a short term basis because it lags. Cumulative chart over long term is different.


Edited by CLK, 13 February 2018 - 10:22 AM.


#7 fib_1618

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Posted 13 February 2018 - 11:23 AM

To me the summation is useless on a short term basis because it lags. Cumulative chart over long term is different.

 

Again, the MCSUM is an intermediate term timing tool...that of 4 to 12 weeks out.

 

And, again, the MCSUM measures this same intermediate term trend of market breadth so, yes, it would be useless as a short term timing tool.

 

Fib


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#8 hopoco

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Posted 13 February 2018 - 12:38 PM

Thanks for all the information

#9 claire

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Posted 13 February 2018 - 12:59 PM

Thank you Fib



#10 Waver

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Posted 13 February 2018 - 07:43 PM

Thank you Fib