Active investment management’s weekly magazine for fee-based advisors

Tom McClellan

Tom McClellan is the editor of The McClellan Market Report newsletter and its companion, Daily Edition. He started that publication in 1995 with his father Sherman McClellan, the co-creator of the McClellan Oscillator, and Tom still has the privilege of working with his father. Tom is a 1982 graduate of West Point, and served 11 years as an Army helicopter pilot before moving to his current career. Tom was named by Timer Digest as the #1 Long-Term Stock Market Timer for both 2011 and 2012.

The dollar’s 8-year cycle

The U.S. Dollar Index is climbing up to its highest level since 2002, which is getting a lot of currency traders excited. U.S. manufacturers are a lot less excited. A more valuable dollar makes it harder to sell products overseas. FIGURE 1: LONG-TERM...

Investors Intelligence data nearing parity

In the latest survey from Investors Intelligence, bulls have fallen to 32.2%, and bears are at 31.0%. That is the lowest bull-bear spread since the COVID crash in March 2020. This is pretty significant because the average bull-bear spread since 2006 is...

An oversold 10% trend of daily A-D

The chart in Figure 1 is one of many that show the oversold situation that has recently appeared. The 10% trend of the daily A-D (advances-declines) difference dipped to -579 on Dec. 1, which is officially “pretty darned oversold.” FIGURE 1: NYSE...

Will high taxes restrict economic growth?

Low taxes are a big stimulus to economic activity. Everyone knows that. Curiously, not everyone understands that high taxes are a giant restriction on the economy. The following chart offers some evidence of that. Several decades of history show us that...