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Categories:Market Breadth Analysis
The McClellan oscillator is a market breadth indicator used in technical analysis by financial analysts of the New York Stock Exchange to evaluate the balance between the advancing and declining stocks
a market breadth indicator based on stock advances and declines
It is a market sentiment indicator that shows the total number of "Put" options (bearish) divided by the total number of "Call" options (bullish). That means that it is an "inverse" indicator - i.e., readings below 1.0 are bullish while readings above 1.0 are bearish.
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