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Thursday, May 20, 2010


Today we'll find out if being minus -105 on the McClellan's Oscillator results in an immediate rally relief of this indicator or not. The NYMO is a daily reading type indicator. For instance the 62% rally (35 points!) to 1148 spanning the back half of one day to the front half of another resulted in no gain for that indicator and in essence recorded "no relief" when in fact there had certainly been relief on an intraday basis.

And that is not really positive divergence on the indicator.  The earlier May 7th closing price on the market was lower during the -123 reading although you could "interpolate" and estimate that there may indeed be a smidgen of some going on. 

So we'll see. The market and waves should let us know.
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