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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: dennis michael patterson who wrote (13431)7/30/1998 12:09:00 PM
From: Robert Graham  Read Replies (1) of 42787
 
The part I always find fun is to determine the top of a move made by a stock. An index should prove to be even more interesting to gauge in this fashion.

What measures would you use? I would wait until the index has encountered solid resistance and then evaluate its response. Also there needs to be some oversold reading on a intraday basis that would work well. Price and volume action is not possible since volume is not available. I wonder what can proxy for volume? There is the intraday measures TICK, and TRIN. Looking at key stocks leading the move up may be worth following. Or you may make your decision based on end-of-day data if you are going to position play these options. Still it would be nice to be able to follow the index during the day and get a read on the strength of its intraday movement.

Bob Graham
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