Daily NYSE McClellan Oscillator Chart

NYSE McClellan Oscillator


Junk Bonds Don’t Confirm Higher Highs

weekly Chart In Focus

The SP500 has rebounded from the May 17 one-day panic to push to a higher high.  But high-yield bond ETFs like HIO are not confirming that higher high, and that’s a problem.

High yield bonds typically move in sync with the stock market rather than with T-Bonds.  They are all about liquidity and default risk, much more so than inflation and other interest rates.  So when liquidity starts to dry up, that condition often shows up first in the high-yield bond market.  Eventually those liquidity... Read More



NYSE: 05/25/2017

 Issues Volume(000s)
Advances 1569   1501119
Declines 1423   1985295
Difference 146   -484176
10% Trend 245 . 052 88921
5% Trend 199 . 173 34786
McC OSC 45 . 879 54135
PRIOR McC OSC 54 . 086 90499
SUMM Index 2578 . 820 -139357
PRIOR SUMM Index 2532 . 941 -193492
A-D for OSC UNCH 291   143 *
A-D for OSC=0 -627   -940 *
*million shares
DJIA Close 21082.95
PRIOR Close 21012.42
DJIA CHG 70.53
DOW Price OSC 69.13
PRIOR DOW Price OSC 61.71
Price OSC UNCH'D 20963.02
Download Data Excel File Daily Oscillator Data (.xls)


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See: Changes in how We Track Volume Data