Daily NYSE McClellan Oscillator Chart

NYSE McClellan Oscillator

 

Doctor Copper Has A Message On Inflation

 
weekly Chart In Focus

One trite Wall Street saying is that copper is the only metal with a PhD in economics.  This is because copper is an industrial metal, the demand for which waxes and wanes with economic growth and shrinkage.  So falling copper prices can be a sign that economic trouble lies ahead, and the converse is also true.

I would argue that copper's more reliable role is as a leading indicator of inflation, as illustrated in this week's chart.  It shows the price of copper, shifted forward by 2 months... Read More

 

 

NYSE: 04/16/2024

 Issues Volume(000s)
Advances 999   981166
Declines 1801   2980209
Difference -802   -1999043
10% Trend -448 . 388 -678379
5% Trend -156 . 112 -244875
McC OSC -292 . 276 -433504
PRIOR McC OSC -286 . 980 -379088
SUMM Index 2069 . 360 1452780
PRIOR SUMM Index 2361 . 636 1886283
A-D for OSC UNCH -741   -1112 *
A-D for OSC=0 5105   7558 *
*million shares
 
DJIA Close 37798.97
PRIOR Close 37735.11
DJIA CHG 63.86
DOW Price OSC -43.49
PRIOR DOW Price OSC 4.84
Price OSC UNCH'D 38621.12
 
 
Download Data Excel File Daily Oscillator Data (.xls)
 

 

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