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Strategies & Market Trends : LastShadow's Position Trading
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To: HandsOn who wrote (870)10/4/1998 5:53:00 PM
From: LastShadow  Read Replies (5) of 43080
 
TRIN and Broad Indices

The TRIN, or Arm's Short Term Trading Index is calculated by dividing the ratio of the number of advancing issues to the number of declining issues by the ratio of the volume of advancing issues to the volume of declining issues. Normally, daily NYSE data is used, and the link Alien Tech posted is a good reference to that index. Basicaly, its designed to measure the relative strength of the volume associated with advancing stocks against that of declining stocks. Based on all the research I have ever read, the Arms has relatively limited forecasting value forecasting stock prices. At extremely high levels it shows a bullish tendency, and at extremely low levels it shows a slighlty bearish tendency. However, one variation that a lot of technicians monitor is known as the Open 10 TRIN, or Open 10 Trading Index. It basically calculates a 10 day total for the ratio. I have personally never found it that useful, although since we are at the extreme of the index (on the bearish side) it might be useful as the indicator generally only surfaces with a telling reading when the market is either very over sold or over bought.

As for the indices, I do run complete TA and neural nets on the DIA and SPY, and both show a rather dismal forecast.

lastshadow
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