Follow up on New Record McClellan

Did this new record high indicate a top or an initiation move?
I looked back and found this chart interesting.
I posted it at the beginning of October asking: "Would you buy this chart?"
As it turned out, it was not the low but very near one (with a nice price divergence)

Well look at a similar extreme swing in the McClellan in 2004:
If the action then is repeated now, it would fit in with those looking for a late November-December i/t low. (Terry's T Theory)
(And it could allow for a little higher high first.)


http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&st=2001-01-01&i=p73146077048&a=30820282&r=4528.png

LINK

Edited by Rogerdodger, 05 November 2008 - 12:44 PM.

Did this new record high indicate a top or an initiation move?
I looked back and found this chart interesting.
I posted it at the beginning of October asking: "Would you buy this chart?
As it turned out, it was not the low but very near one (with a nice price divergence)

Well look at a similar extreme swing in the McClellan in 2004:
If the action then is repeated now, it would fit in with those looking for a late November-December i/t low. (Terry's T Theory)
(And it could allow for a little higher high first.)


http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&st=2001-01-01&i=p73146077048&a=30820282&r=4528.png

LINK

clx ******** and II numbers sez its a kickoff......

Could be Cheif.
It's always different, sometimes.
Terry's "major 23 week cycle low" could be a higher low, I would think but WTHDIK?


"Now that the oscillator has reached an overbought level the S&P should begin topping then turn down to the major 23 week cycle low"

Edited by Rogerdodger, 05 November 2008 - 12:21 PM.

theres a bradley date in december that lines up with that idea.........

clx ******** and II numbers sez its a kickoff... chief, just curious.You mentioned yesterday that the CLX stuff says we are going up. Was it negative the whole way down, cause I don't see you say anything about it when it must be negative. Thanks.

Slightly higher price high on the way accompanied by a lower McClellan osc reading. Then, lower yet again. So not exactly a top, but definitely not an initiation tell. One man's opinion.

Edited by Jnavin, 05 November 2008 - 12:35 PM.

Slightly higher price high on the way accompanied by a lower McClellan osc reading.
Then, lower yet again.

So not exactly a top, but definitely not an initiation tell. One man's opinion.

If they don't let it drop too far first.

Speaking of "initiation moves", here's a post I like:

"It looks like an initiation move" Sep 4 2008
http://www.traders-t...mp;#entry395337

And yesterday:
"VIX daily has crossed below it's 20ma BB median but is nearing the bottom BB.
Ripe for a reverse."

Edited by Rogerdodger, 05 November 2008 - 01:00 PM.

You can't just look at that alone. Many internal metrics are turned or zoned. (above 200, ad, hi/lo, etc.) Should they behave characteristically there is going to have to be some burn-off before any further advance.

Edited by selecto, 05 November 2008 - 01:34 PM.

One is in a bull phase and another in a bear state. I'd not take too much from this comparason. SPX has gone up about 20% from the low till yesterday's high. Now one should really think what's the 0.618 of the 20% rise at least?

Edited by redfoliage2, 05 November 2008 - 01:56 PM.