The Importance of Understanding the Trend

When small caps are underperforming, that's unhealthy. You tend to get a market that either goes sideways or has like one big spurt up over two days and then does nothing. And the McClellan summation index is essentially what like the third or fourth derivative of the advanced decline line can barely get out of its own way. I think that tells you that the majority of stocks are not being able to get out of their own way either.

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