McClellan Summation Index
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Definition of 'McClellan Summation Index'
The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends.
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Investopedia explains 'McClellan Summation Index'
Usually, a small number of stocks making large gains characterizes a weakening bull market. This gives the perception that the overall market is healthy, but in reality it isn't, as rising prices are being driven by a small number of stocks. Conversely, when a bear market is still declining, but a smaller amount of stocks are declining, an end to the bear market may be near.
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Search results for 'McClellan Summation Index'
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http://www.investopedia.com/university/indicator_oscillator/ind_osc9.asp
... McClellan Summation Index The McClellan summation index expands on the McClellan
Oscillator by using the oscillator to focus on longer term trends in advances ...
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