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NASDAQ 30 Day Advance/Decline Oscillator
Description | Calculation | Strategy | View Chart
Time Frame: Intermediate
Category:
Momentum
The market's breadth can also be looked at from a longer-term perspective. Extended periods of internal strength or weakness can identify tops and bottoms that remain in place for several months.
Calculation & Significant Levels
OTC 30 Day Advance/Decline Oscillator: A 30-day moving average of the daily difference between the advancing and declining issues.
Overbought is >+300 and oversold is <-300.Formula: 30-day average of (advancing issues - declining issues)
OTC 30-Day Up/Down Volume Oscillator: A 30-day moving average of the daily Up/Down Volume value.
Overbought is >60% and oversold is <45%.Formula: 30-day average of (up volume) ------------------------- (up volume + down volume)Gauge Elements: Magnitude, Time, Slope
Updated: Daily
As with all internal strength indicators, the up/down volume and the advance/decline oscillators must be considered together. If one of the indicators is overbought and then turns down it may only be an early warning. It is common for one of the intermediate-term indicators to exceed its significant level for weeks or months. However, the combination of both indicators being overbought and then turning down often foreshadows significant market declines. Similarly, when looking for a bottom in a bear market, it has been prudent to wait for both indicators to be oversold and then turn up before becoming bullish. Therefore, the volume and advance/decline calculations are combined into a single gauge labeled "30 Day Adv/Dec" on the Market Gauge Page. This indicator requires both values to be overextended to generate a reading.
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