MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: Chip McVickar who wrote (16081)	6/5/1999 1:20:00 AM
From: Terry Whitman	Read Replies (1) of 99985

Chip, for a simpler volume method- You may want to study On Balance Volume. It is a simplified method of using up and down volume to find targets for reversals. Here's an example of an OBV divergence,(or non-confirmation) in a chart of HM- iqc.com Look at the bottoms on the price chart- One in Dec., and the current one. Then compare the OBV chart to it at Dec. and currently. The OBV has gone up considerably, while the price has gone down. A rising OBV indicates accumulation. The price has been driven down on light volume days. It has been going up on heavy volume days. The price will most usually follow the volume. Hence, I am bullish on HM. Regards, TW

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