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Saturday, April 13, 2024 11:16:47 PM
The $NYSE McClellan Oscillator is far below 70 already, a level that indicates significant oversold levels
By: SmartReversals | April 12, 2024
• Be Careful Staying Too Bearish On The Market
The $NYSE McClellan Oscillator is far below 70 already, a level that indicates significant oversold levels.
Extreme high or low readings +70 or -70, can indicate overbought or oversold conditions, respectively. It suggests the market might be due for a bounce.
Posted earlier the $SPX chart, indicating support levels and mentioning that a reversal candle would not be a surprise on Monday or Tuesday.
Last Friday, the $NDX McClellan oscillator was oversold, it was not the case for the broader market. It is now.
Read Full Story »»»
DiscoverGold
By: SmartReversals | April 12, 2024
• Be Careful Staying Too Bearish On The Market
The $NYSE McClellan Oscillator is far below 70 already, a level that indicates significant oversold levels.
Extreme high or low readings +70 or -70, can indicate overbought or oversold conditions, respectively. It suggests the market might be due for a bounce.
Posted earlier the $SPX chart, indicating support levels and mentioning that a reversal candle would not be a surprise on Monday or Tuesday.
Last Friday, the $NDX McClellan oscillator was oversold, it was not the case for the broader market. It is now.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
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