Hi JG. I have posted over the years (at times in detail) about the Larger Market Picture Indicator components. That was my selection in order to make the effort a data-based Indicator and to eliminate my emotions and biases, and moods as much as possible.
Briefly, it consists up of all the known major market indices plus the 'specialized' ones totaling 17.
Few things to note, since you seem to be interested.
What I exposed myself to (learned?) over many years (since 2003) that the greater challenge was my attempt to 'learn' roused even greater interest to see HOW what I was 'seeing' in the Indicator compared with what was 'unfolding' in the larger market. We know it's a changing dynamic. That effort being too challenging required many years... and is still 'work in progress'.
The point is that there's no easy path to look over these components and get clear 'clues' most of the time of what could happen next in the larger market. Besides, the market is also too large, complex, complicated, changing and changeable, and just like humans, 'temperamental'. No magic silver bullet here.
Other info based on wider knowledge about the market can make the LMP Indicator more understandable and user-friendly as to the 'clues'.
Still the messages and clues happen to be too subtle and also subject to change.
Interpreting the 'clues' as they come is made harder by the changing component combinations, changing and shifting of direction, etc., all make predictions limited to relatively shorter time periods. An awareness of Cycles, Bull/Bear Phases as defined by moving averages and their interplay as background knowledge is important and a must, imo. GLTY
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