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The McClellan Summation Index, developed by Sherman and Marian McClellan, is a long-term version of their McClellan Oscillator that is better suited to help identify potential major trend reversals.
The McClellan Oscillator is a market breadth indicator that is based on the smoothed difference between the numbers of advancing/declining statistics. In depth coverage of the McClellan Oscillator is provided in their book “Patterns for Profit”.
Interpretation
The Summation Index is interpreted in much the way same as the McClellan Oscillator is. Please refer to the McClellan Oscillator's Notes for additional details.
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