TIM ORD is flat.
The top window is the McClellan oscillator and readings <0 are bearish; today’s close -83. Next window down is the 3 day average of the TRIN. Market bottoms form on panic and the TRIN helps to identify those times with readings above 1.50. When the 3 MA of the TRIN reaches 1.50 and higher the market is usually near a short term low; today’s reading came in at .97 and not showing panic. Next window down is the 3 day average of the Tick/TRIN ratio. Readings below -150 on this indicator can be a bullish sign and today’s reading came in at minus 232.74. Best bullish signals are generated when the 3 MA Trin >1.50 and the 3 MA of the Tick/TRIN ratio <-150 and we don’t have that here. The bottom window is the 4 MA of the Advancing (blue line) and 4 MA of the Declining (red line). When blue line is above red line a bullish condition is present; when red is above blue then that is a bearish sign. Also the market has been down 6 days in a row going into Friday and the market has been lower 10 of 12 times on average of 3% over the next 30 days. Therefore it would make sense if market does bounce to look for a short position.
mclellan in april https://www.marketwa...egun-2018-04-25