MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.00

+0.2%

Nov 11 4:00 PM EST

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To: Casaubon who wrote (52884)	6/2/2000 1:31:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

it simply measures the number of upticks minus downticks at a given point in time. above +1,000 is an extremely overbought reading. the TRIN is also an overbought/oversold indicator, it measures advancing stocks/declining stocks divided by advancing volume/declining volume. a TRIN above 1 says there is much more action in declining stocks volume wise. in other words, while the tick reading shows lots of uptick trades regardless of size, the high TRIN indicates that most of the action is actually in declining stocks. this is another way of saying that distribution is taking place. in fact the ten day TRIN reading on the NYSE is very curious...the indicator remains deeply oversold in spite of the ongoing rally. this is a negative divergence...i'm not certain however if it is really meaningful...somebody big is apparently selling this rally, but that somebody could be wrong. regards, hb

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