Tom McClellan: Divergences Are Not Confirming The Dow's New High, Sees Immediate Correction

Tom McClellan, editor of the McClellan Financial Report, told CNBC today that he sees an immediate market correction because General Electric ($GE) and Copper are not confirming the Dow's new high. He said "it seems like the only thing keeping the market up is the Fed." McClellan also showed these divergences in his March 8 "Chart in Focus" post (free).

Another post with Tom McClellan that you might find interesting: McClellan: Eurodollar COT Predicts S&P One Year In Advance (Economy One Year and Six Months In Advance).

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