McClellan Oscillator

The McClellan Oscillator is based on New York Stock Exchange net advances over declines. It provides a measure of such conditions as overbought - oversold and market direction on a short thru intermediate term basis. The McClellan Oscillator measures a bear market selling climax when it registers a very negative reading in the vicinity of -150. A sharp buying pulse in the market would be indicated by a very positive reading, well above 100.

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