Why this bullish stock-market timer is about to flip to bearish
Tom McClellan, editor of the McClellan Market Report, flipped to bearish from bullish after the NYSE saw over 1,000 net decliners on Monday. McClellan had previously set a threshold of 241 net declining stocks to switch to bearish for short- and intermediate-term trading styles.
Tom McClellan, editor of the McClellan Market Report, switched to bearish from bullish after the NYSE saw 1,969 stocks lose ground on Monday, exceeding his threshold of 241 net decliners. The S&P 500 and Nasdaq-100 had reached record highs multiple times the previous week. McClellan's decision is based on his short- and intermediate-term trading styles, which involve making trades every few days and weeks, respectively. He remains long-term bullish. McClellan had expressed concerns about the market's lack of participation in the rally and the concentration of the US stock market. The NYSE had 1,193 more decliners than advancers on Monday, according to FactSet data.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.