First, the macro doesn't compute anything. It is substituted into a source code, expanded, and the resulting text gets compiled. What the resulting text is, depends on the way you use the macro, especially on what parameter you give.
Second, the macro lacks one closing paren, so it probably would not give you a meaningful expression to be compiled.
Third, even when you add the lacking paren:
#define SIGN(x) ((x < 0) ? -1 : (x > 0))
it is possible you get unexpected results if you use the macro in a non-simplest way. For example,
SIGN(a ^ b)
would result in
((a ^ b < 0) ? -1 : (a ^ b > 0))
which is interpreted in C and C++ as
((a ^ (b < 0)) ? -1 : (a ^ (b > 0)))
which certainly is not what we intend.
You should add parentheses to avoid unwanted operators binding – for:
#define SIGN(x) (((x) < 0) ? -1 : ((x) > 0))
the above example will yield a sensible expression
(((a ^ b) < 0) ? -1 : ((a ^ b) > 0))
but that still doesn't protect you against unwanted double increment/decrement in case of plus-plus or minus-minus operators or double execution of a function in case the expression substituted for x
contains a function call.