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Technology Stocks : Ascend Communications (ASND)
ASND 200.15-0.5%3:59 PM EST
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To: Glenn D. Rudolph who wrote (30932)1/18/1998 1:54:00 PM
From: Jurgen  Read Replies (2) of 61433
 
Glenn, ION$

i'm a little concerned you guys might use the TRIN for something important, so here's more info on this tricky indicator:
(from "The New Technical Trader", Tushar S. Chande, S. Kroll)

...The popular Arms Index devised by Richard Arms combines the two blocks of data into a single indicator, He devised this trader's index (commonly called TRIN) to show when abnormally high volume was going into advancing or declining stocks. It is defined as
Arms Index = (AI/DI)/(AV/DV) = (DV/DI)/(AV/AI)
with AI = # of advancing issues, AV = advancing volume, DI=# of declining issues and DV = declining volume
...
On a day when the market is weak, the TRIN is greater than 1.0 since there is more volume in decling issues. When the market is up strongly, the index is less than 1.0. Note that the scales for up days and down days are not the same. This occurs because the index is bounded between 0 and 1 for updays, but unbounded beyond 1.0 on weak days. For example, readings greater than 4.0 have been recorded many times. This makes it difficult to use the TRIN with moving averages.
...The direction and speed of the changing index values is often more important than the absolute value of the index itself...
I hope that helps !

best wishes
5speed
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