By Jeff Pierce

Here is an interesting way to look at the Nasdaq McClellan Oscillator using the 8ema & 21ema crossover as when to get bearish/bullish. Also when the 5ema starts to rollover could be the start of a correction, and as of today’s close the 8ema is starting to roll over. It doesn’t necessarily mean that a correction is eminent, but it is one signal that the markets could be getting ready to pull back.

NAMOT – Bigger chart with annotations.

namot

“It is difficult to see a situation for what it is when you are in the midst of it…it is too familiar…too comfortable” ~ from Night Circus

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