Don't Ignore This Chart

Watch the Rising Trend Line on the NYSE McClellan Summation Index

Arthur Hill | 
The NYSE Summation Index ($NYSI) has been rising since the latter part of November and recently exceeded its September high. The trend here is clearly up with the November trend line marking first support. Even though the summation index flattened over the past week, it has yet to break this trend line and reverse the medium-term uptrend. You can read more on the McClellan Summation Index in our ChartSchool.

Ny-mco
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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London.
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