RE: cad: Breadth Numbers.
cad wrote:
As it stands right now as I type this, the Nasdaq shows 1585 advancing stocks to 1282 declining with 69 new 52 week highs compared to 14 lows. Up volume is twice that of down volume at 752mill to 358mill.
FWIW, the number of NDX advancers is currently 65, which seems in line with the above information. I don't track the adv/dec volume, but could update my AmiBroker code to track it, if you are interested.
technical indicators and oscillators are not 'breadth' charts. I don't see why you could not count a stock as an advanced or decliner based on a technical indicator, like the MACD. Price is an indicator. In fact, it is the most important indicator. Looking at other indicators to determine if a stock is advancing or declining is just thinking outside of the box. Also, looking at the breadth on smaller time frames is, again, think outside the box.
FWIW, I have found the MACD to be the most useful. I have looked at numbers above their 20,50, and 200 MA not to work well. I looked at the crossover of the ADX DI+/DI- as well. Again, did not work very well. RSI(5) does not make sense to use. Not sure if I tried the Slow Stoch or not; it could be useful.
But not to be too far outside the box, I also post the McClellan Osc and SI based on the NDX adv/dec information. I am comfortable doing this because these indicators are found at other sites and it is a well understood breadth indicator. In fact, the McClellan's themselves look at this and print it everyday in their daily newsletter (Not subscribed; got a free copy when I ordered their book).
Thanks for your comments! If you have any more, please let me know.
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