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For NDX, 50 day moving avg McClellan Summation Index has rolled over compared to SPX & NYSE. In 2020, summation index rolled over for all indices together. Does this bifurcation reflects something?
ReplyDeleteSecond, maybe this weekend you can make a detail post on what does pivot means? Thank you!
Varun: Thank you for your comment. Very often indexes do top at different times so that will be reflected in the summation index rolling over. Actually, a very slight stagger can sometimes exist at the daily level and not be detected in the weekly chart. A better description of how the pivot unfolds is forthcoming. Stuart.
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