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x Activity Indicator Showing Interest In Buying

Investor Activity Indicator.

The above chart is a type of sentiment indicator. The indicator gives a rough estimate of investor interest in buying shares. It is a "rough" estimate because It does not directly measure buying activity. Traditional market indicators already do that.  This is a less direct measurement that tends to be more predictive (forward looking).  A rising indicator is a rough indication of increased interest in buying shares.  A declining indicator is a rough indication of decreased interest in buying. The procedures used in creating the indicator are proprietary. We do not want the construction of the indicator to be in the public domain at this time (hence the secrecy about its construction). Each day, we take our measurements for the latest week and compare them to the 6-month average of the same.  The zero line is the average (normalized).  The scale represents the percentage above or below the 6-month average.   A reading of 30% means the current reading is about 30% above the average for the last 6 months.  The date shown is the date the measurements were taken, and not necessarily today's date.  You could think of the indicator as being like a thermometer, except that instead of measuring temperature, it measures relative buying interest.  The scale is unbounded.  That is, the readings could go beyond ± 100.zzz
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zzzzzChannel Index
 
     On Balance Volume was created by Joe Granville. His idea was that by computing a running total of the volume, a person could see if money was flowing into or out of a security. To construct the OBV, the total volume for each day is assigned a plus or minus value determined by whether the price closed higher or lower for the day. A higher close means the volume will be asigned a plus value and the volume will be added to the running total of the volume. A lower close means the volume will be assigned a minus value, and the volume will be subtracted from the running total of the volume. Granville's premise was that the OBV would precede price action. Smart money buying shares would show by an increase of OBV and the stock would respond by rising. Smart money selling, would result in a decrease of OBV and the stock would decline. If a stock rises or falls before the OBV, or if it moves in the opposite direction of the OBV, then the move is said to be non-confirmed, and it should be viewed with suspicion. Non-confirmations often occur at the end of an advance (where the stock is still rising but OBV is not) or at the end of a decline (where the stock is still declining but OBV is not). When a stock is making higher peaks on a chart, the OBV should also be making higher peaks (otherwise, there is a non-confirmation of the rising trend). The reverse is true of a declining trend. OBV that has a sideways pattern is considered "doubtful." However, if the OBV is doubtful for only two days and the stock resumes its previous trend, then it is assumed that the trend never changed. Many short-term traders use the OBV to trade short-term cycles. They look for breakouts of the OBV (a change from a declining or doubtful OBV to a rising OBV, for example). Another use is to view a change in direction of the On Balance Volume as a buy or sell signal, but only in the direction of the trend. For example, if the stock is above a rising 50-day moving average and declining or going sideways, then an upturn in the OBV would be a buy signal. The CMO in our charts is the 10-day CMO and the red "trigger" line is the 10-day moving average of the 10-day CMO. Though Chande suggested this combination and said the use of the "trigger" moving average would enable a person to initiate a trade before a zero crossing of the CMO for earlier entries and exits, he warned that using such a "trigger" sometimes results in premature signals.Interest Rate Spread
zzzzzChannel Index
 
     On Balance Volume was created by Joe Granville. His idea was that by computing a running total of the volume, a person could see if money was flowing into or out of a security. To construct the OBV, the total volume for each day is assigned a plus or minus value determined by whether the price closed higher or lower for the day. A higher close means the volume will be asigned a plus value and the volume will be added to the running total of the volume. A lower close means the volume will be assigned a minus value, and the volume will be subtracted from the running total of the volume. Granville's premise was that the OBV would precede price action. Smart money buying shares would show by an increase of OBV and the stock would respond by rising. Smart money selling, would result in a decrease of OBV and the stock would decline. If a stock rises or falls before the OBV, or if it moves in the opposite direction of the OBV, then the move is said to be non-confirmed, and it should be viewed with suspicion. Non-confirmations often occur at the end of an advance (where the stock is still rising but OBV is not) or at the end of a decline (where the stock is still declining but OBV is not). When a stock is making higher peaks on a chart, the OBV should also be making higher peaks (otherwise, there is a non-confirmation of the rising trend). The reverse is true of a declining trend. OBV that has a sideways pattern is considered "doubtful." However, if the OBV is doubtful for only two days and the stock resumes its previous trend, then it is assumed that the trend never changed. Many short-term traders use the OBV to trade short-term cycles. They look for breakouts of the OBV (a change from a declining or doubtful OBV to a rising OBV, for example). Another use is to view a change in direction of the On Balance Volume as a buy or sell signal, but only in the direction of the trend. For example, if the stock is above a rising 50-day moving average and declining or going sideways, then an upturn in the OBV would be a buy signal. The CMO in our charts is the 10-day CMO and the red "trigger" line is the 10-day moving average of the 10-day CMO. Though Chande suggested this combination and said the use of the "trigger" moving average would enable a person to initiate a trade before a zero crossing of the CMO for earlier entries and exits, he warned that using such a "trigger" sometimes results in premature signals.Interest Rate Spread   xxx


yyy Gold & Silver Handy & Harmon Base Price (2-Day Intervals)

The data often does not include today's data, because of the lateness of its availability. Nevertheless, the charts are useful for context and pattern analysis. The dashed blue line is the 50-day moving average. Current data is shown in the two small charts below the base price charts.

Commodity Channel Index (CCI)