McClellan Oscillator Rising

This is an interesting chart because we’re moving to overbought levels on the McClellan Oscillator ($NYMO) however that isn’t necessarily a bad thing. We often have more upside once we hit these levels before we roll over and correct. This is where you have to be nimble with your positions as last week was the easy money on the long side. LOL. I don’t really think there is anything that can be described as easy money in Wall Street. I wouldn’t assume that once we’re in oversold/overbought levels that the market is going to immediately snap back in the other direction.