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Suppose the McClellan Osc of volume is layed along side the McClellan Osc of
issues. Last week the Issue osc was whipsawing above zero while waiting for
the volume oscillator to cross above zero. Friday was the charm. So
technically both are on a buy now if you call crossing zero a buy...they are
both still in the neutral zone of +,-50. There have been some pretty good
trades with these oscillators from the beginning of the year. I would not
toss them out because of recent performance, and would expect them to pick
up importance again as we enter September and then the 4th quarter.
bobr
http://www.oextrader.com/sigma_trader
----- Original Message -----
From: "profitok" <profitok@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, August 26, 2001 5:09 PM
Subject: Re: [RT] sp500
> I completely agree,,
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Sunday, August 26, 2001 6:30 PM
> Subject: Re: [RT] sp500
>
>
> > The McClellan Oscillator appears to have become near useless as a market
> > timing tool (ala Time Trend III) because it is whipsawing back and forth
> so
> > frequently ... this may in large part be due to decimalization which has
> > apparently caused unchanged issues/volume to decline and advancing
> > issues/volume to increase. I would also note that VIX after a modest
rise,
> > declined to 22 and change on Friday ... not the levels from which major
> > rallies are launched. There are many times, while trading S&P futures,
> that
> > I have the distinct impression that the locals are fully in charge. In
my
> > view, Friday's rally was impressive but suspect. Consider that CSCO, the
> > alleged instigator of the rally, is selling at an astronomical PE ... a
> > clear indication that the tech bulls have not thrown in the towel. I
don't
> > know if it will be next week, next month, or next year, but I firmly
> believe
> > this market is going a lot lower.
> >
> > In the meantime, I just try to pick off some of each day's swing and my
> > trading bias remains down until a base is in. However, I am attaching a
> > chart of the spoo, which makes a credible case that 5 waves down have
been
> > completed. If this is the case we should expect an ABC rally which
> retraces
> > to the general vicinity of the W.4 high around 1234. This seems to jive
> with
> > the weekly counts which suggest that the larger W.5 is not complete.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "profitok" <profitok@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Cc: "Vincent DONOVAN" <vdonovan@xxxxxxxxxxxxx>
> > Sent: Sunday, August 26, 2001 12:05 PM
> > Subject: [RT] sp500
> >
> >
> > > Hello
> > > the sp500 is somewhat stronger then the NASDAQ(Mcllullen osc at a
> better
> > reading) I still see a decrease for next week
> > > a lake of participation (low holiday week)
> > > the 5 day total trin the 5 day Ave trin and the 10 day Ave trin are at
a
> > 15 day low
> > > add to that a decreasing p/c and
> > > the icing on the cake an increase in price without an increase in new
hi
> > > be careful
> > > Ben
> > >
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