3 replies to this topic

[dTraderB]

TOM'S NEW POST reveals this BULLISH DIVERGENCE!

"McClellan Oscillator Bullish Divergence

Two weeks ago, I wrote here about the McClellan Oscillator leaving a "simple" structure above zero, which said that the bulls were not (yet) in charge. The major averages since then have pushed to a lower low, even as seasonality says that the uptrend is supposed to be starting again now. But as prices have made lower lows, the NYSE's McClellan A-D Oscillator is making a bullish divergence, which says that the energy is going out of the decline.

https://www.mcoscill...ish_divergence/

ALSO HIGHER FOR SPX!

https://www.marketin...llan-oscillator

McOsc Was UP?
https://www.mcoscill...t_breadth_data/

[fib_1618]

But not in all cases.

 

Like I shared a day or two ago, critical time right now for both sides as the battle for control continues.

 

Fib

[redfoliage2]

TOM'S NEW POST reveals this BULLISH DIVERGENCE!

"McClellan Oscillator Bullish Divergence

Two weeks ago, I wrote here about the McClellan Oscillator leaving a "simple" structure above zero, which said that the bulls were not (yet) in charge. The major averages since then have pushed to a lower low, even as seasonality says that the uptrend is supposed to be starting again now. But as prices have made lower lows, the NYSE's McClellan A-D Oscillator is making a bullish divergence, which says that the energy is going out of the decline.

https://www.mcoscill...ish_divergence/
 

ALSO HIGHER FOR SPX!

https://www.marketin...llan-oscillator
 

McOsc Was UP?
https://www.mcoscill...t_breadth_data/

I pointed out at this divergence three days ago.  The market is just waiting for the Fed to get out of the way to launch a classic reversal....................

Edited by redfoliage2, 27 October 2023 - 02:54 PM.

[fib_1618]

NYSE breadth ratio at the close is 2.93:1 negative...that would balance yesterday's small upside pop(s). Important there is that the 10/23 lows hold.

 

NASDAQ breadth ratio is at 2.16:1 negative, but the NDX MCO took a crapper on Thursday and will close at new reaction lows today.

 

The important thing to remember is that growth stocks MUST lead stocks of value during advancing price sequences or it's just not a bull trend. And the only way growth leads is that interest rates are moving lower...a cheaper cost of debt for R&D.

 

Fib

Edited by fib_1618, 27 October 2023 - 03:17 PM.