NYSE McClellan Oscillator
Chart In Focus: Eurodollar COT Indication Calls For Big Stock Market Top Now
Back in May 2011, I introduced Chart In Focus readers to the leading indication that I get from looking at Commitment of Traders (COT) data on eurodollar futures. Since then (and also before) readers of our twice monthly McClellan Market Report newsletter and Daily Edition have appreciated getting to see this relationship on a more frequent basis.
For almost a year, we have known that a top was due to arrive in February 2012. And sure enough, stock prices have been rising nicely in recent weeks as fulfillment of that expectation.
Now this leading indication says that things are going to get less fun for investors for a while. The next 3 months show a sideways to downward structure in the eurodollar COT data,... Read More
NYSE: 02/03/2012
| issues | volume | ||
| Advances | 2386 | 772865 | |
|---|---|---|---|
| Declines | 653 | 124883 | |
| Difference | 1733 | 647982 | |
| 10% Trend | 705 | . 807 | 168394 |
| 5% Trend | 532 | . 643 | 126963 |
| McC OSC | 173 | . 164 | 41431 |
| PRIOR McC OSC | 122 | . 208 | 15565 |
| SUMM Index | 4767 | . 953 | 896754 |
| PRIOR SUMM Index | 4594 | . 789 | 855323 |
| A-D for OSC UNCH | 879 | 210 * | |
| A-D for OSC=0 | -2584 | -619 * | |
| *million shares | |||
| DJIA Close | 12862.23 | ||
| PRIOR Close | 12705.41 | ||
| DJIA CHG | 156.82 | ||
| DOW Price OSC | 191.49 | ||
| PRIOR DOW Price OSC | 186.65 | ||
| Price OSC UNCH'D | 12798.75 | ||
Daily Oscillator Data (.xls)
Extended Data
All of this data, plus a lot more, is available on our Daily Edition along with charts and analysis. See our Market Reports page to get the bigger picture.
Market Breadth Data Notes
- We use WSJ/Barron's data for our final breadth numbers. Calculations made on numbers from other sources will show a slightly different result.
- We wait until late in the day in order to have access to the "final" numbers.
- This reflects final readings for the indicators covered.
- Values for indicators calculated using preliminary numbers released just after the close usually differ slightly from these numbers.
- We usually recommend that readers keep their own data for themselves, but this is a useful way to check and see if your numbers agree with ours.