Three widgets in the blog's right-hand column now plot the ES against the S&P 500 McClellan Oscillator, the NQ against the Nasdaq McClellan Oscillator, and the YM against the Dow Jones McClellan Oscillator. Data are updated and charted daily.
The McClellan Oscillator is one of the most useful instruments for examining the internal condition of an equity market. It measures something conventional price charts cannot reveal directly: whether an index's movement is supported by broad market participation or driven by a relatively small group of stocks, as reflected in advance–decline metrics. The widgets independently calculate these figures after the market close (ET) and track and plot breadth signals: bullish and bearish zero-line crossings, divergences, and breadth thrusts. Moving the grey dashed vertical sliders across the charts displays the corresponding metrics for each date in the tables below them.
The McClellan Oscillator is one of the most useful instruments for examining the internal condition of an equity market. It measures something conventional price charts cannot reveal directly: whether an index's movement is supported by broad market participation or driven by a relatively small group of stocks, as reflected in advance–decline metrics. The widgets independently calculate these figures after the market close (ET) and track and plot breadth signals: bullish and bearish zero-line crossings, divergences, and breadth thrusts. Moving the grey dashed vertical sliders across the charts displays the corresponding metrics for each date in the tables below them.
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