| McClellan
Summation Index |
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The McClellan Summation Index is a long-term version of the McClellan
Oscillator. It is a market breadth indicator and interpretation is
similar to that of the McClellan Oscillator except that it is more
suited to major trends.
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Usually,
a small number of stocks making large gains characterizes a weakening
bull market. This gives the perception the overall market is healthy
but in reality is not as rising prices are being driven by a small
number of stocks. Conversely, when a bear market is still declining,
but a smaller amount of stocks are declining, an end to the bear market
may be near. |
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