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The
Carhartt Trend Pivot (Pivot
Line) is a
proprietary trend indicatory developed by Larry Carhartt
when trading the Treasury Bond futures markets in the 1990's.
In a trending market, a closing price above this line
indicates an uptrend. Conversely, a closing price
below this line indicates a downtrend.
The McClellan
Oscillator
is a market breadth indicator based upon the smoothed
difference between the number of advancing and declining
issues on the index or ETF.
The McClellan
Summation Index
is a market breath indicator based on an accumulation of the
McClellan Oscillator (see description immediately above).
The McClellan Summation Index is a long-term version of the
McClellan Oscillator. Its interpretation is similar to that
of the McClellan Oscillator except that it is more suited to
major trend reversals.
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