The 10 and 20 day moving averages of the advance-decline lines remain oversold. Today’s move didn’t change that much.
The McClellan oscillators are also oversold. The lows have hit at a consistent frequency. Not every cycle brings a low. The most recent low in the oscillator occurred at the major cycle turn on October 10th. This oscillator low was early on it’s cycle but today that cycle did hit.
The NYSE McClellan oscillator low cycle hit on October 10th.
Charts courtesy of Stockcharts.com
Tags: Advance-Decline · Market Internals · McClellan Index · New York Stock Exchange (NYSE)2 Comments
2 responses so far ↓
Hey do you know abything about 30 year Gann cycle low coming in days?
not sure maybe commodities cycle or equities
Tobject - I don’t follow long term Gann cycles - usually not longer than 10 years. Those cycles often provide a reflex reaction to the market - maybe a gap up or down. But they don’t seem to have any long term affect. It is probably a good idea to follow them but I don’t have the time.