Technical Analysis—More on NYSE McClellan Oscillator ($NYMO)
NYSE McClellan Oscillator (Ratio Adjusted) Index (updated on 02/25/2022 ) (Original Article posted on 04/23/2016) As reported in [1], NYSE McClellan Oscillator ($NYMO) has pulled back nicely on 04/21/2016. So, now it's nowhere near overbought. Figure 1. NYSE McClellan Oscillator (Ratio Adjusted) Index NYSE McClellan Oscillator ($NYMO) The McClellan Oscillator is a short- to intermediate-term momentum breadth indicator based on Net Advances (advancing issues less declining issues). If it is computed for the NYSE, the oscillator is called $NYMO . Similarly, $NAMO is computed for the Nasdaq. Here we will focus only on $NYMO. The McClellan Oscillator is the 19-day EMA of Net Advances less the 39-day EMA of Net Advances. As the difference between two moving averages, this oscillator has characteristics similar to MACD . Signals can be derived from bullish/bearish divergences, overbought/oversold conditions and centerline crossovers....