$COMPQ - Chart Link- As I mentioned this
morning the NYMO after divergering with the SPX for 2 months went
below the zero line yesterday. As Tom McClellan states the
divergence is the signal (but not the trigger), the trigger is
closing below zero. While not perfect, when I looked at the past 5
years it's been a pretty good signal. In very strong trends what
can happen is it dip below zero then go back up, which you need a
stop basically
NYMO below zero line yesterday
Posted by matt on 3rd of Jan 2024 at 03:53 pm
$COMPQ - Chart Link- As I mentioned this morning the NYMO after divergering with the SPX for 2 months went below the zero line yesterday. As Tom McClellan states the divergence is the signal (but not the trigger), the trigger is closing below zero. While not perfect, when I looked at the past 5 years it's been a pretty good signal. In very strong trends what can happen is it dip below zero then go back up, which you need a stop basically
here's the Twitter post from Tom McClellan
https://twitter.com/McClellanOsc/status/1742360892334076086