The McClellan Summation Index is a long-term version of the McClellan Oscillator. Its interpretation is similar to that of the McClellan Oscillator except that it is more suited to major trend reversals. As explained in the Calculation section, there are two methods to calculate the Summation Index. The two calculation methods create indicators with identical appearances, but their numeric values differ. These interpretational comments refer to the "suggested" calculation method explained in the Calculation section. McClellan suggests the following rules for use with the Summation Index:
- Look for major bottoms when the Summation Index falls below -1,300.
- Look for major tops to occur when a divergence (page 29) with the market occurs above a Summation Index level of +1,600.
- The beginning of a significant bull market is indicated when the Summation Index crosses above +1,900 after moving upward more than 3,600 points from its prior low (e.g., the index moves from -1,600 to +2,000).