Uploaded May 2026 | Updated September 2026, 2 weeks ago
đź’ˇJoin our exclusive community and get insider access directly from Jason Shapiro: crowdedmarketreport.com/cmr-cc
(member-only market recap videos and COT charts on Stocks, Crypto) [Requires Discord Account]
🧠crowdedmarketreport.com Learn more about Jason and the CMR Community
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Is the stock market crashing, or is this just another trap designed to shake out retail traders?
In this masterclass interview, 30-year hedge fund manager Jason Shapiro sits down with market legend Tom McClellan to break down exactly what the data is saying behind the scenes. Tom reveals why the McClellan Oscillator just hit an extreme oversold condition, creating a massive "bullish divergence."
They also dive into the historical truth behind the Advance-Decline line, why stock market drawdowns are typically capped at 10% after hitting new highs, and the rare exceptions you need to watch out for (like the end of Quantitative Easing). Finally, Tom shares his legendary "Helicopter Pilot" analogy for risk management—teaching you exactly how to trade a bull market while preparing for the moment the "engine quits."
Stop trading the news and start tracking the data that actually moves the market. Join us inside the Crowded Market Report to get our weekly COT charts and institutional insights.
Watch now as Jason Shapiro provides powerful insights into his unique price action trading strategies and contrarian approach to reading trader positioning charts across the stock market, futures, and currencies. We’ll explore the exact methods Jason uses—as a successful trader and featured Market Wizard—to fade crowded positioning, navigate extreme volatility, and identify high-reward/low-risk opportunities by watching the tape. Learn how to ignore the "fake narratives" and focus on the news failures and positioning data that actually move the needle in today’s markets.
CHAPTERS:
0:00 - The Bullish Divergence in the McClellan Oscillator
0:38 - The 10% Drawdown Rule & Advance-Decline Highs
1:18 - The 3 Exceptions to the Rule (QE & Flash Crashes)
2:10 - Why this is just a normal pullback on bad news
2:54 - The Ultimate Warning Sign: When Breadth Fails
3:35 - The "Helicopter Pilot" Guide to Risk Management
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NOT FINANCIAL ADVICE. FOR EDUCATIONAL PURPOSES ONLY Disclaimer: CMR Publishing LLC dba Crowded Market Report (CMR) is a content provider and publisher and is not a registered with the Commodity Futures Trading Commission (CFTC) as a commodity trading advisor (CTA) or in any other capacity. CMR is exempt from registration as a CTA under CFTC Regulation 4.14(a)(9) because CMR does not direct client accounts and does not provide commodity trading advice based on, or tailored to, the commodity interest or cash market positions or other circumstances or characteristics of any particular client.
Jason Shapiro, one of the principals of CMR, is also listed as a principal and is registered as an associated person of JS Trading LLC, a registered CTA and member firm of the National Futures Association. Any materials and information presented through CMR is solely the responsibility of CMR. JS Trading LLC disclaims all responsibility for such materials and information.
By accessing CMR websites and/or using CME products and services, including without limitation any and all content available on or through any platform where CMR posts content, you understand and agree that the material provided in CMR products, services and content is for informational and educational purposes only, and that no mention of a particular commodity futures or other financial instrument in any CMR product, service or service contents a recommendation to buy, sell, or hold that or any other commodity future or other financial instrument, or that any particular commodity future or financial instrument, portfolio of commodity futures or financial instruments, any specific transaction or investment strategy is suitable for any specific person. Remember, the risk of loss in trading commodity futures contracts can be substantial. You should, therefore, carefully consider whether such trading is appropriate for you in light of your circumstances and financial resources.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURES RESULTS
đź’ˇJoin our exclusive community and get insider access directly from Jason Shapiro: crowdedmarketreport.com/cmr-cc
(member-only market recap videos and COT charts on Stocks, Crypto) [Requires Discord Account]
🧠crowdedmarketreport.com Learn more about Jason and the CMR Community
-------------------------------------------------------------------------
Is the stock market crashing, or is this just another trap designed to shake out retail traders?
In this masterclass interview, 30-year hedge fund manager Jason Shapiro sits down with market legend Tom McClellan to break down exactly what the data is saying behind the scenes. Tom reveals why the McClellan Oscillator just hit an extreme oversold condition, creating a massive "bullish divergence."
They also dive into the historical truth behind the Advance-Decline line, why stock market drawdowns are typically capped at 10% after hitting new highs, and the rare exceptions you need to watch out for (like the end of Quantitative Easing). Finally, Tom shares his legendary "Helicopter Pilot" analogy for risk management—teaching you exactly how to trade a bull market while preparing for the moment the "engine quits."
Stop trading the news and start tracking the data that actually moves the market. Join us inside the Crowded Market Report to get our weekly COT charts and institutional insights.
Watch now as Jason Shapiro provides powerful insights into his unique price action trading strategies and contrarian approach to reading trader positioning charts across the stock market, futures, and currencies. We’ll explore the exact methods Jason uses—as a successful trader and featured Market Wizard—to fade crowded positioning, navigate extreme volatility, and identify high-reward/low-risk opportunities by watching the tape. Learn how to ignore the "fake narratives" and focus on the news failures and positioning data that actually move the needle in today’s markets.
CHAPTERS:
0:00 - The Bullish Divergence in the McClellan Oscillator
0:38 - The 10% Drawdown Rule & Advance-Decline Highs
1:18 - The 3 Exceptions to the Rule (QE & Flash Crashes)
2:10 - Why this is just a normal pullback on bad news
2:54 - The Ultimate Warning Sign: When Breadth Fails
3:35 - The "Helicopter Pilot" Guide to Risk Management
-------------------------------------------------------------------------
NOT FINANCIAL ADVICE. FOR EDUCATIONAL PURPOSES ONLY Disclaimer: CMR Publishing LLC dba Crowded Market Report (CMR) is a content provider and publisher and is not a registered with the Commodity Futures Trading Commission (CFTC) as a commodity trading advisor (CTA) or in any other capacity. CMR is exempt from registration as a CTA under CFTC Regulation 4.14(a)(9) because CMR does not direct client accounts and does not provide commodity trading advice based on, or tailored to, the commodity interest or cash market positions or other circumstances or characteristics of any particular client.
Jason Shapiro, one of the principals of CMR, is also listed as a principal and is registered as an associated person of JS Trading LLC, a registered CTA and member firm of the National Futures Association. Any materials and information presented through CMR is solely the responsibility of CMR. JS Trading LLC disclaims all responsibility for such materials and information.
By accessing CMR websites and/or using CME products and services, including without limitation any and all content available on or through any platform where CMR posts content, you understand and agree that the material provided in CMR products, services and content is for informational and educational purposes only, and that no mention of a particular commodity futures or other financial instrument in any CMR product, service or service contents a recommendation to buy, sell, or hold that or any other commodity future or other financial instrument, or that any particular commodity future or financial instrument, portfolio of commodity futures or financial instruments, any specific transaction or investment strategy is suitable for any specific person. Remember, the risk of loss in trading commodity futures contracts can be substantial. You should, therefore, carefully consider whether such trading is appropriate for you in light of your circumstances and financial resources.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURES RESULTS
