$NYMO - Chart Link - updated, definitely provided a nice sell signal from last week

$SPX - Chart Link - Moon cycle chart, clearly the last Moon cycle provided an inflection point top last week, lately the cycles have marked inflection points. The next cycle isn't until July 19th, so not for a while

$NYMO - Chart Link - The NYMO McClellan Oscillator, also marked some kind of top last week, continues to work lower

Here's a chart of the NYMO McClellan Oscillator - note that it closed in an extremely overbought condition.  Now study the chart for a moment and note how well this indicator has been at marking at least short term tops and bottoms, the S&P 500 is plotted at the bottom.  Therefore with the NYMO in such an overbought condition, it would not surprise me to see the market soon have some kind of pullback.

$NYMO - Chart Link - another NYMO chart which shows that the NYMO closed outside the upper Bollinger Bands, this is quite rare and generally significant

$NAMO - Chart Link - NAMO - the Nasdaq version, also closed outside the upper Bollinger Bands

$NYMO - Chart Link - got overbought again today

$NYMO - Chart Link - the chart hasn't updated yet, won't update for another hr, but anyway it was overbought yesterday and Wednesday.

Also take a look at summer 2010, after the initial May sell off, the market bounced up and down for 2 months before bottoming, the first two times the NYMO got overbought were great shorts.

Next look at recent times last Aug, after the Aug selloff, the first bounce caused the NYMO to get overbought and that was a sell signal.

looks similar this time, we had a big sell off in May, and you sell the first rally, NYMO got overbought

jennelle1- $NYMO for the NYSI, and $NAMO for the Nasdaq, here's a couple charts

Stockcharts.com Explaination

NYMO chart from newsletter

NYMO chart

NAMO chart

$NYMO - Chart Link - here's the updated chart

$NYMO - Chart Link - The NYMO is now quite oversold and the 2 RSI closed at 0.24% on Friday, therefore the market is probably getting close to some kind of oversold bounce soon.  But again what kind of bounce will it be?  Take a look at the history and notice that it was quite a bit lower in August of last year and in May 2010.  Also notice that happened during those times is that the market put in an oversold bounce, but then pulled back again to form a lower low.  Also notice during those two times that the NYMO formed a positive divergence i.e. it formed a higher low while the NYSE formed a lower low.  

Perhaps we'll see something similar this time around i.e. an oversold bounce soon, but then another pullback to form a lower low, while the NYMO forms a higher low

$NYMO - Chart Link - The NYMO is not yet below its lower Bollinger Band

$NAMO - Chart Link - The NAMO chart hasn't yet closed below its lower Bollinger Bands, though it's close.

$NYMO - Chart Link - Last night I commented that the NYMO wasn't oversold yet, well obviously it fell it fell is is now oversold.  Again it doesn't mean that it can't get more oversold, I'm just showing the updated chart.

Perhaps this indicator will be oversold after today's action, last night I noted that it wasn't oversold yet

NYMO chart

$NYMO - Chart Link

yes I have a TS workspace, it didn't give a signal

also here's a Stockcharts.com Chart with the rules on it, as you can see, not signal

http://stockcharts.com/h-sc/ui?s=$NYMO&p=D&b=5&g=0&id=p76054967512&a=206950189&listNum=17

LOL the Hindenburg again?  man that was discussed so many times here in the past, type Hindenburg into the search box and you will see tons of discussion on it.  

http://breakpointtrades.com/blog/search.php?search=Hindenburg&topic=All-Topics&poster=&startdate=&enddate=&page=1

Here's a Stockcharts.com Workspace, as you can see, there is no signal

http://stockcharts.com/h-sc/ui?s=$NYMO&p=D&b=5&g=0&id=p76054967512&a=206950189&listNum=17

One also occurred last year in Late Nov near the bottom and in mid Dec, near that pullback low.  I think most people stopped paying attention to that back in 2010 when it gave repeated false sell signals

stitch - thanks for the chart, however just an FYI, it's much better and cleaner to post the chart URL inside the text box instead of in the title i.e.  Plus this way the URL will work, when it's posted in the title of the post the URL only points to the post and not the chart.

NYMO chart

Here's the NYMO McClellan Oscillator