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Tom McClellan: Summation is moving down now, while prices move up, which is highly irregular and a sign of trouble. https


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#1 dTraderB

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Posted 13 June 2024 - 07:21 PM

Tom McClellan (@McClellanOsc) posted at 7:26 PM on Thu, Jun 13, 2024:
The McClellan Oscillator is a very short term accelerometer for the A-D data. The companion Summation Index changes each day by the value of the Oscillator, so the Summation is moving down now, while prices move up, which is highly irregular and a sign of trouble. https://t.co/GO9aUUpDkn
(https://x.com/McClel...1955816616?s=03)

#2 dTraderB

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Posted 13 June 2024 - 07:21 PM

Tom McClellan (@McClellanOsc) posted at 6:26 PM on Thu, Jun 13, 2024:
By my count today, only 30 NDX component stocks were higher on June 13, despite the new all-time high for the index. That keeps the McClellan A-D Oscillator for those stocks below zero, not the condition you want to see if you are in the bullish camp. https://t.co/sRY1MjKeRi
(https://x.com/McClel...8089507972?s=03)

#3 dTraderB

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Posted 13 June 2024 - 07:26 PM

Jason Goepfert (@jasongoepfert) posted at 5:24 PM on Thu, Jun 13, 2024:
It just keeps getting weirder.

To the best of the data I have, this is the first time since inception that the Nasdaq 100 rose more than +0.5%, and at least 40 more stocks declined than advanced. https://t.co/LLGosvZzLA
(https://x.com/jasong...6392541444?s=03)

#4 dTraderB

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Posted 13 June 2024 - 07:27 PM

https://www.mcoscill...ow_convergence/

#5 dTraderB

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Posted 13 June 2024 - 07:29 PM

Osc dropped from -45 to _81

https://www.mcoscill...t_breadth_data/

#6 dTraderB

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Posted 13 June 2024 - 07:32 PM

Holger Zschaepitz (@Schuldensuehner) posted at 8:10 PM on Thu, Jun 13, 2024:
This chart shows the lack of market breadth very well. Today, the Nasdaq 100 gained 0.6% despite >70% of names in the index traded lower on the session. NDX (Nsadq 100) > NDXE (Nasdaq 100 Equal Weight) by ~90bps, which is a TOP 5 day of outperformance over the last 1 year, https://t.co/Yvy8WZz7wS
(https://x.com/Schuld...8079881560?s=03)

#7 dTraderB

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Posted 13 June 2024 - 07:40 PM

Bespoke (@bespokeinvest) posted at 4:39 PM on Thu, Jun 13, 2024:
The Nasdaq 100 is up 3% so far this week and has traded higher on all four trading days, but breadth has been 50/50 with 50 stocks up on the week and 50 stocks down.
(https://x.com/bespok...0192695442?s=03)

#8 dTraderB

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Posted 13 June 2024 - 07:41 PM


Bespoke (@bespokeinvest) posted at 3:08 PM on Thu, Jun 13, 2024:
Another awful day for breadth.

The S&P is higher but only ~160 stocks are up vs. ~340 down.
(https://x.com/bespok...1470254171?s=03)

Bespoke (@bespokeinvest) posted at 4:39 PM on Thu, Jun 13, 2024:
The Nasdaq 100 is up 3% so far this week and has traded higher on all four trading days, but breadth has been 50/50 with 50 stocks up on the week and 50 stocks down.
(https://x.com/bespok...0192695442?s=03)



#9 12SPX

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Posted 14 June 2024 - 08:13 AM

I'm back, after driving and flying for almost 24 hrs Wednesday into yesterday morning I was exhausted!!  Did add to my short which was easy on the ES to a nice even 5400 and now 19090 on the ndx as noted in this post, the market is very unhealthy and has the felling it is running out of steam.  Even the big move after the inflation numbers didn't have that much oomph and the Fed news is old and absolutely stupid anyhow in my view as they think they can predict where the economy and inflation will be all the way to 2026.  Don't forget they said inflation was transitory not that long ago.  As I have always said this inflation is fake anyhow, only being caused because retailers are greedy, the real concern should be these lofty interest rate effects on people who are way over extended, so I still believe were headed for a hard landing in the end.  The market is in a ridiculous place in my view with little volatility, even hitting the 11 level the other day, priced for perfection and technically incredibly overbought.  A healthy market sees volatility up and down.  Saw a chart the other day that we are now on our 324th day I believe without a -2% correction in one day, the record I believe is 351.  Hmmmmm why did my font change lol!!  Anyhow, going to be an interesting expiration week as we move into the September numbers which again is insane, 70 points above cash, absolutely insane!!  We are now also nearing my initial upside levels so should be interesting... 



#10 12SPX

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Posted 14 June 2024 - 08:42 AM

And with the ndx moving into green territory I'm doubling down for next week with my average short at 5400 and now 19335...