Don't Ignore This Chart!

McClellan Summation Index Struggling to Stay Positive


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The McClellan Summation Index is a great market indicator that recently set some all-time record lows back at the end of last year.  Since then, it has bounced back into positive territory, but over the past couple of days a new decline has begun.  While not unexpected, that is disappointing since "according to the McClellans, the beginning of a new bull market is signaled if the NYSE-based Summation index first moves below the -1200 level and then quickly rises above +2500."

Chip Anderson
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