McClellan Summation Index

A version of the McClellan Oscillator adapted for long-term trends. It is an indicator of future market movements related to the number of advancing or declining securities on the NYSE as opposed to the average price change. The McClellan Summation Index is calculated by taking a 19-day exponential moving average (EMA) of the net number of securities that are advancing and subtracting a 39-day EMA of the same thing (which is the calculation of the McClellan Oscillator) and adding that to the previous trading day's Summation Index. That is, the McClellan Summation Index is expressed as:

Oscillator = (19-day EMA of securities advancing - securities declining) - (39-day EMA of securities advancing - securities declining) + Previous day's McClellan Summation Index.

The importance of the McClellan Summation Index comes from the fact that price averages may be driven by only a few securities. That is, a few securities may be making large gains while the rest of the securities on the NYSE are posting losses, or vice versa. A price average, then, may not reflect the true conditions of the market. The McClellan Summation Index attempts to control for this.

单词	mcclellan summation index
释义	McClellan Summation Index McClellan Summation Index A version of the McClellan Oscillator adapted for long-term trends. It is an indicator of future market movements related to the number of advancing or declining securities on the NYSE as opposed to the average price change. The McClellan Summation Index is calculated by taking a 19-day exponential moving average (EMA) of the net number of securities that are advancing and subtracting a 39-day EMA of the same thing (which is the calculation of the McClellan Oscillator) and adding that to the previous trading day's Summation Index. That is, the McClellan Summation Index is expressed as: Oscillator = (19-day EMA of securities advancing - securities declining) - (39-day EMA of securities advancing - securities declining) + Previous day's McClellan Summation Index. The importance of the McClellan Summation Index comes from the fact that price averages may be driven by only a few securities. That is, a few securities may be making large gains while the rest of the securities on the NYSE are posting losses, or vice versa. A price average, then, may not reflect the true conditions of the market. The McClellan Summation Index attempts to control for this.
随便看	line his pockets line history block line hunt group line hunting line hydrophone line id lineidae line ii line immuno assay line impact dot matrix line impedance line impedance stabilization network line in line independent power supply line influence line information data base line information database line integral line integral convolution line integrals line interactive line interactive ferro topology line interconnecting point line interface line interface card