Registered User
Joined: 12/17/2004
Posts: 8
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Does TC2000 have any indicators that track breadth of the Dow, NASDAQ, Russell 2000?
What are their symbols.
Thank you.
Ken
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here our some of our Technical Indicators you might look at. The tickers are T2xxx.
T2101
Absolute Breadth Index
This index was developed by Norman Fosback. It is simply the absolute value of the number of advancing issues minus the number of declining issues. For example, if the number of advancing issues is 1200 and the number of declining issues is 600, the Absolute Breadth Index equals 600. If the number of advancing issues is 400, and the number of declining issues is 900, the Absolute Breadth Index equals 500. Remember, the sign is ignored in the calculation of an absolute number.
For charting purposes, we take the daily Absolute Breadth value (calculated as described in the previous paragraph) and publish it as a percentage increase or decrease from the previous day’s value. For example, let’s say yesterday’s Absolute Breadth value was 1000 and the chart shows a value of 31. Now, today’s calculated value comes in at 960:960 / 1000 = .96, which is a 4% decrease from the previous day, so today’s reading would be 27, a 4% decrease.
The theory behind the Index is that when the absolute difference between the number of advancing and declining stocks is high, you are more likely to be near a market bottom than a top since a selling climax, with most stocks participating, often occurs near a market bottom. On the other hand, a low Absolute Breadth Index reading is more likely to signify the slow topping activity that frequently occurs at a market peak.
T2103
Zweig Breadth Thrust
Developed by Martin Zweig (The Zweig Forecast, PO Box 5345, New York, NY 10150), this indicator is calculated by taking a 10-day moving average of the number of advancing issues divided by the number of advancing issues plus the number of declining issues. Since it is a percentage indicator, it cannot go below 0 or above 100. However, it is rare that it goes below 40 or above 60.
Greg Morris (G. Morris Corporation, Forest Park Tower, 9500 Forest Lane, Suite 301, Dallas, TX 75243-5914) claims that Martin Zweig says any time this indicator thrusts from below 41 to above 60 in under 10 days that the market will be significantly higher 18 months later. We find the indicator useful as an overbought/oversold indicator, also.
We also have NDVOL (NYSE down volume) and QDVOL (COMPQX down volume).
- Craig
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