Summation Index Breaks EMA

06/18/2009 9:42 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

The McClellan Summation Index dropped below its 34-day EMA on Wednesday. It has been above its EMA since March 20, which suggests that the rally has lost upside momentum. If the EMA turns lower, it would come as an even more negative sign for stocks.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STRATEGIES

Keyword Image
MSG Networks: A Sporting Chance
12/12/2018 5:00 am EST

Validea is an advisory service which assesses stocks based on the investing criteria of many of the ...