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#5: Tom McClellan on Engineering Effective Stock Market Models

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Origins of Advanced Decline Statistics

Your parents started tracking the McClellan Oscillator when they got a subscription to Barons. Back in 1962, Grandville and Richard Russell pointed out how a big divergence between the New York Stock Exchange advanced decline line and the Dow Jones industrial average had foretold the big bear market of 1962. So suddenly people were thinking, wow, there's something that could have told us about that, we ought to pay attention to that. And my parents were among those who were suddenly interested in the advanced decline statistics.

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