McClellan Oscillator

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An indicator of future market movements related to the number of advancing or declining securities on the NYSE, as opposed to the average price change. The McClellan Oscillator is calculated by taking a 19-day exponential moving average (EMA) of the net number of securities that are advancing and subtracting a 39-day EMA of the same thing. That is, the McClellan Oscillator is expressed as:

Oscillator = (19-day EMA of securities advancing - securities declining) - (39-day EMA of securities advancing - securities declining).

The importance of the McClellan Oscillator comes from the fact that price averages may be driven by only a few securities. That is, a few securities may be making large gains while the rest of the securities on the NYSE are posting losses, or vice versa. A price average, then, may not reflect the true conditions of the market. The McClellan Oscillator attempts to control for this.

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McClellan Summation Index			Although technicians have created dozens of methods for charting stocks, the modes most used by technicians include the Dow Theory, the McClellan Oscillator and the Elliott Wave. Technically speaking by Brown, Camille / Black Enterprise On 12/03 we stated our opinion that, given the then substantially overbought condition of the McClellan Oscillator, it was likely the equity markets would see a drop in prices regardless of the Fed's decision on interest rates. ARjENT Services LLC Analyst Believes Recent Market Correction Near End by Business Wire The weekly stochastics are now negative and the McClellan Oscillator has a pattern of lower highs and lower lows meaning the advancing issues are fewer while the declining issues are growing. Zacks.com announces that Dennis Slothower highlights the following ... by Business Wire			maturity value Maun Mauritanian Ouguiya Mauritian Rupee Max Pain Maximizer Maximum Capital Gains Mutual Fund Maximum Expected Return Criterion Maximum Loan Amount Maximum Loan-to-Value Ratio Maximum Lock Maximum Price Fluctuation Maximum Return Criterion May Day May Expand Mayorista MBIA, Inc. MBO MBS Clearing Corporation MBS depository MBS servicing MBSCC MC McCain-Feingold Act McCarran-Ferguson Act McClellan Oscillator McClellan Summation Index McCulloch v. Maryland MCF McFadden Act McMansion MD MDA MDL Me-Too Product Me-Too Response Meals and Entertainment Expense mean Mean of the sample Mean Return Mean reversion mean term Mean-Variance Analysis Mean-variance criterion Mean-variance efficient portfolio meander line Measurement Error Measurement Noise measurements measuring life Mecanisme d'assurance-depots			McChord Air Force Base MCCHP MCCHS MCCI MCCIA MCCID MCCIP MCCIS MCCISWG MCCIYN MCCJ MCCJA MCCJDP MCCL MCCLA McClain County McClain County, OK McClain County, Oklahoma McClaren, Steve MCCLC McClellan McClellan Air Force Base McClellan Kerr Arkansas River Navigation System McClellan Nuclear Radiation Center McClellan Oscillator McClellan Oscillators McClellan Summation Index McClellan, George McClellan, George McClellan, George B McClellan, George Brinton McClellan, George Brinton McClellan, George Brinton, Jr. McClellan, John Little McClelland and Stewart Ltd McClelland, David C McClelland, David C. McClendon, Rose MCCLEP McClernand, John Alexander McClintic Wildlife Management Area McClintock McClintock McClintock (disambiguation) McClintock (disambiguation) McClintock Barbara McClintock, Barbara McClintock, Barbara McClintock, Francis Leopold McClintock, Francis Leopold McClintock, John McClintock, Sir Francis Leopold MCCLIS McCloskey McCloskey, James

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