The Oscillator takes a number of related variables of trading data into account, tracks development according to several moving averages, and results in an average numeric value which may be either positive or negative. Historically, the expression of this result has been viewed as symbolic of the condition of the market.
An Oscillator value of 50% is considered “par.” When the Oscillator reaches a value of “+4%” (meaning 4% above par, or 54%), the market is technically said to be in an “overbought” position. Markets in this standing may be considered as being poised for a downward correction.
By contrast, Oscillator values falling to levels below 50% may be indicative of a trend in the opposite direction. An Oscillator value reaching “-4%” (meaning 4% below par, or 46%) is a technical indication of an “oversold” market, which may set the stage for a rally.
Extreme oversold or overbought market positions, meaning a situation in which Oscillator values reach -8% or +8% respectively, can often signify impending significant market advances or declines.
The Short Range Oscillator is provided through the “Trendline Daily Action Stock Charts” publication. Annual subscriptions are available with issues mailed weekly, biweekly or monthly.
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