Sunday, August 20, 2017 8:04:38 PM
GLD ...Money Flow Index(MFI)... I posted this on SeekingAlpha...
Someone said...correlation does not equate to causation...they were looking at North Korean hype...not the volume that goes with the hype...
Maybe this will help others to "know" what to look for...not all NEWS(hype)is the same...Technical indicators will give the "hype" definition...
...correlation does not equate to causation...?...
In my work sentiment comes with volume...then price. Without volume to support "Price" you have no momentum. Maybe a daily chart doesn't give a good picture and so you step down to a micro view of what the daily chart has been doing...a 60minute chart...with a few technical indicators and maybe volume on the side...what have the last 3 days been saying...?... Maybe its saying...it appears volume hasn't been supporting GLD price above $122. (Looking at the normal volume graph not the side volume...side volume may define some support/resistance levels...)
Money Flow Index (MFI) is an oscillator that uses both price and volume to measure buying and selling pressure. Created by Gene Quong and Avrum Soudack, MFI is also known as volume-weighted RSI. MFI starts with the typical price for each period. Money flow is positive when the typical price rises (buying pressure) and negative when the typical price declines (selling pressure). A ratio of positive and negative money flow is then plugged into an RSI formula to create an oscillator that moves between zero and one hundred. As a momentum oscillator tied to volume, the Money Flow Index (MFI) is best suited to identify reversals and price extremes with a variety of signals. (StockCharts.com) The On Balance Volume is also interesting.
Enjoy
http://stockcharts.com/c-sc/sc?s=GLD&p=60&yr=0&mn=1&dy=0&i=p31666499122&r=1503271560042
Someone said...correlation does not equate to causation...they were looking at North Korean hype...not the volume that goes with the hype...
Maybe this will help others to "know" what to look for...not all NEWS(hype)is the same...Technical indicators will give the "hype" definition...
...correlation does not equate to causation...?...
In my work sentiment comes with volume...then price. Without volume to support "Price" you have no momentum. Maybe a daily chart doesn't give a good picture and so you step down to a micro view of what the daily chart has been doing...a 60minute chart...with a few technical indicators and maybe volume on the side...what have the last 3 days been saying...?... Maybe its saying...it appears volume hasn't been supporting GLD price above $122. (Looking at the normal volume graph not the side volume...side volume may define some support/resistance levels...)
Money Flow Index (MFI) is an oscillator that uses both price and volume to measure buying and selling pressure. Created by Gene Quong and Avrum Soudack, MFI is also known as volume-weighted RSI. MFI starts with the typical price for each period. Money flow is positive when the typical price rises (buying pressure) and negative when the typical price declines (selling pressure). A ratio of positive and negative money flow is then plugged into an RSI formula to create an oscillator that moves between zero and one hundred. As a momentum oscillator tied to volume, the Money Flow Index (MFI) is best suited to identify reversals and price extremes with a variety of signals. (StockCharts.com) The On Balance Volume is also interesting.
Enjoy
http://stockcharts.com/c-sc/sc?s=GLD&p=60&yr=0&mn=1&dy=0&i=p31666499122&r=1503271560042
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