"The strong breadth numbers on the NYSE have produced a reading
of +164.60 on June 15, 2012. That is above the +150 level that has
been marking an overbought threshold in recent years, and thus it
indicates an overbought condition. But at the same time, it also
signals strong upward initiation for this new price uptrend. It
does that because this overbought reading occurs within a complex
structure above zero, which is a statement that the bulls are in
charge."
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McClellan: "Bulls are in charge"
Posted by sethbru on 16th of Jun 2012 at 03:36 am
http://www.mcoscillator.com/learning_center/weekly_chart/
"The strong breadth numbers on the NYSE have produced a reading of +164.60 on June 15, 2012. That is above the +150 level that has been marking an overbought threshold in recent years, and thus it indicates an overbought condition. But at the same time, it also signals strong upward initiation for this new price uptrend. It does that because this overbought reading occurs within a complex structure above zero, which is a statement that the bulls are in charge."