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Tom McClellan explains that there have only been four qualifying market signals within a recent 30 trading day period, specifically on July 29, August 10, August 11, and September 3. He clarifies this number is well below the nine signals that some may expect.
McClellan outlines the requirements for a qualifying signal: both new highs and new lows must be greater than 2.8 percent of advances and declines, the NYA must be above its value from 50 trading days ago, and the NYSE McClellan Oscillator must be negative.
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McClellan has previously examined differences in how Bitcoin Commitments of Traders data are reported versus traditional markets, detailed in his article on Bitcoin COT report data. He has also identified the SHY ETF as a practical option for investors seeking exposure to 1–3 year U.S. Treasuries, offering a 4.11% yield, as noted in his discussion of Treasury yields. These prior insights add further context to his analysis of current market signals.