S&P 500 vs McClellan Indicators Update
- Our trend fiend, the McClellan Summation Index ($NYSI), is indicating a trend change in $SPX, while SPX is grinding above the upper Keltner channel.
- Is the $NYSI early? Yes, it could be early by a few days, but it is a red flag, and it is not alone, many breadth and technical indicators are sending warnings.
- The McClellan Oscillator ($NYMO) looks terrible.
