McClellan Oscillator Oversold

10/05/2009 10:00 am EST


Thomas Aspray

, Professional Trader & Analyst

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The stock market decline over the past four days has taken the short-term A/D studies, such as the McClellan oscillator, back to oversold levels. The A/D line uptrend is still intact for NYSE, but has been broken in the NASDAQ. The strength of the next rally will be important, but should see at least two days on the upside with resistance at 105.

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