With another bout of selling pressure this week, the Nasdaq McClellan Summation Index reversed at the zero line and moved back below -100. Notice that this breadth indicator has been largely negative since mid March. You can read more on the McClellan Oscillator and Summation index in our ChartSchool.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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 market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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