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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Terry Whitman who wrote (12241)	7/20/2001 12:04:04 AM
From: Lee Lichterman III	Read Replies (1) of 52237

I found it on teh first one I checked. Laverne Olney's site who is here on SI. He has a ton of great stuff! Click on teh NYSE and the NASDAQ tabs at the bottom of the page to see the Summation for each index..... users.chartertn.net The formulas for them according to the equis site for my software are as follows with explanations.... McClellan Oscillator rev. 01/06/97 The McClellan Oscillator, developed by Sherman and Marian McClellan, is a market breadth indicator that is based on the smoothed difference between the number of advancing and declining issues on the New York Stock Exchange. The McClellan Oscillator is one of the most popular breadth indicators. Buy signals are typically generated when the McClellan Oscillator falls into the oversold area of -70 to -100 and turns up. Sell signals are generated when the oscillator rises into the overbought area of +70 to +100 and then turns down. Extensive coverage of the McClellan Oscillator is provided in their book Patterns for Profit . To plot the McClellan Oscillator, create a composite security in The DownLoader™ of Advancing Issues minus Declining Issues. Open a chart of the composite in MetaStock™ and plot this custom indicator. Mov(CLOSE,19,EXPONENTIAL) - Mov(CLOSE,39,EXPONENTIAL) ================== McClellan Summation Index rev. 01/06/97 The McClellan Summation Index is a market breadth indicator developed by Sherman and Marian McClellan. It is a long-term version of the McClellan Oscillator and its interpretation is similar to that of the McClellan Oscillator except that it is more suited to major trend reversals. For more extensive coverage of the index refer to the book Patterns for Profit, by Sherman and Marian McClellan. McClellan suggests the following rules for use with the summation Index: Look for major bottoms when the Summation Index falls below -1300. Look for major tops to occur when a divergence with the market occurs above a Summation Index level of +1600. The beginning of a significant bull market is indicated when the Summation Index crosses above +1900 after moving upward more than 3600 points from its prior low (e.g. the index moves from -1600 to +2000). The summation index is plotted by adding the Cum function to the McCllellan Oscillator. The formula is Cum(Mov(C,19,E) - Mov(C,39,E)). Good Luck, Lee

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