Summation Index Flattens Out

05/18/2009 9:27 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

The negative A/D numbers for much of last week have caused the McClellan Summation Index to flatten out. It is still well above its rising WMA, however, so it is still positive. It would take a drop in the Index below its declining WMA before a strong sell signal would be generated. Next good support is in the 850-860 area.

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