Great news, SlopeCharts users! We now have both the McClellan Oscillator and the McClellan Summation Index!
The McClellan Oscillator is a breadth indicator in SlopeCharts which is based on the components of the S&P 500. This is an important distinction from other studies, since it will appear consistently from chart to chart, irrespective of what is being charted. The reason is that the calculation is based on the components of the S&P 500 and the quantity among those stocks that are advancing or declining.(more…)