What is the S&P Oscillator that Jim Cramer talks about and how can I use it?

Question

What is the S&P Oscillator that Jim Cramer talks about and how can I use it?

Answer 1

The S&P Oscillator is a short term measure of current market sentiment. S&P has their own proprietary formula for computing this. When the value of the oscillator exceeds 4, it generally means the market is overbought, and when it is less than negative 4, it generally means the market is oversold.

The S&P oscillator is not publically available; you must subscribe to their Trendline service which runs about $1,000/year.