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Dan,
Perhaps to my detriment, I have not paid close enough attention to the
details of Ben's and BobR's AdvVol-DeclVol indicator to be able to explain
it in any more than a general way. It measures market breadth which in turn
shows whether money is flowing into or out of the market or segment of the
market (e.g. Nasdaq). It can be shown as an absolute number or as a
"normalized" number much like a stochastic. When it reaches extremes, it is
prone to reversal with prices following shortly or concurrently. There are
a variety of breadth measures out there and many are discussed in the
literature. I believe that Ben's indicator differs from most indicators
reported in the literature only in that it tracks intraday data rather than
end of day.
Some research on market breadth or breadth indicators should give you a good
feel for the kind of information the subject indicator offers. A discussion
of a variety of breadth indicators is available for free on the internet.
I hope this helps. I also hope Bob or Ben will correct me if I am
misrepresenting the indicator they use and generously share with the list.
Dan H
>From: Dan <dcash@xxxxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: realtraders@xxxxxxxxxxxxxxx
>Subject: Re: [RT] NASDAQ Daily AdvVol-DeclVol
>Date: Tue, 05 Jun 2001 19:52:32 -0700
>
><< multipart1 >>
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