|
PureBytes Links
Trading Reference Links
|
I'm attaching a screen shot of 6 years of daily NYSE McClellan Oscillator
prepared from data taken each day from the WSJ Market Diaries. This shows some
remarkable action:
On 5/10 the McO reached -382, a level not seen since the post 9/11
of -406.
On 5/24 the McO reached +303, a level not seen in 6 years of the daily data
which I have collected.
This represents an incredible move of 685 points in the McO in
10 trading days where the NYSE moved from a close of 6251 to 6429 or
178 points, a percentage move of just 2.8%.
If it were not for the fact that a) employ double match data entry and b)
recheck each day's data on the day following entry, I would suspect the data. In
that I have a high degree of trust in my data, I find this to be worthy of
considerable notice.
Were it not for the fact that the market is already so extremely valued, I
would think we were on the cusp of a major bull market rally. Lacking this
explanation, I can only guess that the market is telling us that something
extraordinary is either happening or about to happen.
Earl
<BLOCKQUOTE dir=ltr
>
----- Original Message -----
<DIV
>From:
<A title=Duke.Jones@xxxxxxxxxxxxxxxxxxxxxx
href="">Duke Jones, CMT
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, May 26, 2004 5:17
AM
Subject: RE: [RT] SP 5-24
<SPAN
>Earl.
<SPAN
>
<SPAN
>Does<SPAN
> “NYSE MCO” refer to Operating
Companies or am did I miss something simple again? <FONT
face=Wingdings color=navy size=2><SPAN
><SPAN
>J<FONT
face=Arial color=navy size=2><SPAN
>
<SPAN
>
<SPAN
>Thanks,
<SPAN
>
<SPAN
>Duke
Jones, CMT
<SPAN
>Longboat
Global Advisors, LLC
<SPAN
><A
href="">www.longboatglobal.com
<SPAN
><A
href="">www.sectorrotationfund.com
Yahoo! Groups Sponsor
ADVERTISEMENT
Yahoo! Groups Links
To visit your group on the web, go to:http://groups.yahoo.com/group/realtraders/
To unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Attachment:
NyseMco.gif
Attachment:
Description: "Description: GIF image"
|