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April 07, 2021

The Message of a Bumpy Summation Index

Indicators like the McClellan Summation Index can tell us a lot by the level they get to.  But they can also tell us a lot based on the patterns they show, or in some cases the patterns they don’t show.  A “smooth” move in the Summation Index is one that is nearly linear, and it conveys a message about strength for the direction of the move.  So in the case of this week’s chart, we see smooth sustained up moves. We also see some bumpy down moves.  Bumpiness is an indication of weakness for the direction of the movement, and so… more


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