MCCLELLAN OSCILLATOR TURNS NEGATIVE ... On January 6, I wrote an explanation
of the McClellan Oscillator and its longer-range version which is the
Summation Index. The Oscillator measures short to intermediate momentum in
NYSE market breadth. It's the difference between the 19- and 39-day EMAs of
NYSE net advances. Readings over 100 market are overbought while a drop to -
100 is oversold. Chart 6 shows the NYMO rallying from oversold readings
during November and pulling back from an overbought r
