11

The WSC Technical Market Indicators Paperback: The Complete Resource for Financial Market Technicians

Independent and objective research provider

www.WallStreetCourier.com

Last Update: 12/9/2017

Update Cycle: Weekly

2

Overview of different Technical Market Indicators

Oscillators

Market Breadth Indicators

Contrarian Indicators

Trend Indicators

Technical

Market

Indicators

WallStreetCourier.com classifies technical market indicators into four main groups

• To measure the main direction of the

underlying security/market

• To determine the strengths of a trend

or of the market condition

• To track the investing behavior of

different kinds of investment groups

Options Market Indicators

Smart Money vs. Dumb Money

Market Sentiment

Stock Market Cycles

• Are designed to lead price

movements and are oscillating

around a certain value

3

Investment Process of our Systematic Weekly U.S. Equity Market Research (1/2)

► Start

Trend according

to trend

indicators?

YES

NO

1

Breadth

indicators

supporting

trend?

YES

NO

2

3

Contrarian indicators are confirming trend

Oscillators are confirming trend

YES

NO

YES

NO

Contrarian indicators are not confirming

trend

Oscillators are not confirming trend

4

5

6

7

No trades

Take profits

and/or use close

stops

Top/bottom is

near!

Act contrarian!

Follow trend!

Take profits

and/or use close

stops

Follow trend!

Extreme trend

following!

1 Detailled description please see next slide

4

Investment Process of our Systematic Weekly U.S. Equity Market Research (2/2)

Description decision tree

1 Market has no clear bullish or bearish trend

• Do not trade a trendless market!

2 Market is in a trend but the trend is not confirmed by market breadth

• Market is extremely vulnerable to macro economical news flows and cycles

• Take profits and/or use close stops for you portfolio

3 Market trend is confirmed by market breadth

• This is a scenario for a healthy trend

• Buy into any upcoming weaknesses in a bullish trend

• Sell into any upcoming strengths in a bearish trend

4 Market trend is confirmed by market breadth and by contrarian indicators

• Extremely strong trend

• Use leverage to boost your profits (only for high experienced traders/investors)

5 Market trend is not confirmed by breadth and not confirmed by contrarian indicators

• Trend is mostly driven by heavy weighted stocks in the index while the broad market

is already lagging behind

• Market top or market bottom is at hand

• Act contrarian (only for high experienced traders/investors)

6 Market trend is confirmed by market breadth but not by contrarian indicators

• Ignore contrarian indicators

• As long as the trend is confirmed by breadth do not trade against the trend

• Buy into any upcoming weaknesses in a bullish trend

• Sell into any upcoming strengths in a bearish trend

7 Market trend is confirmed by contrarian indicators but not by market breadth

• Follow the trend but use close stops and do not average down your portfolio

Low trading experience

High trading experience

Systematic Weekly U.S. Equity Market Research based on our published indicators

Published every Sunday

Trend

Indicators

Breadth

Indicators

Contrarian

Indicators

Strict

Investment

Process

Systematic Weekly Market

Research

Long-/Short

Recommendations for

the S&P 500

Major U.S. Indices Daily

Description

• The Dow Jones Industrial Average is a

stock market index. It is an index that

shows how 30 large, publicly owned

companies based in the United States.

• The S&P 500 is a stock market index

which contains the biggest 500

companies in the U.S. This index

provides a broad snapshot of the overall

U.S. equity market as over 70% of all

U.S. equity is tracked by the S&P 500 and

it is therefore one of the most important

stock indexes of the world.

• The Chicago Board Options Exchange

Market Volatility Index is a popular

measure of the implied volatility of S&P

500 index options.

• Often referred to as the fear index or the

fear gauge, it represents one measure of

the market's expectation of stock market

volatility over the next 30 day period

INDICES

Major U.S. Indices Weekly

INDICES

Description

• The Dow Jones Industrial Average is a

stock market index. It is an index that

shows how 30 large, publicly owned

companies based in the United States.

• The S&P 500 is a stock market index

which contains the biggest 500

companies in the U.S. This index

provides a broad snapshot of the overall

U.S. equity market as over 70% of all

U.S. equity is tracked by the S&P 500 and

it is therefore one of the most important

stock indexes of the world.

• The Chicago Board Options Exchange

Market Volatility Index is a popular

measure of the implied volatility of S&P

500 index options.

• Often referred to as the fear index or the

fear gauge, it represents one measure of

the market's expectation of stock market

volatility over the next 30 day period

Major U.S. Indices Weekly [Historical]

INDICES

Description

• The Dow Jones Industrial Average is a

stock market index. It is an index that

shows how 30 large, publicly owned

companies based in the United States.

• The S&P 500 is a stock market index

which contains the biggest 500

companies in the U.S. This index

provides a broad snapshot of the overall

U.S. equity market as over 70% of all

U.S. equity is tracked by the S&P 500 and

it is therefore one of the most important

stock indexes of the world.

• The Chicago Board Options Exchange

Market Volatility Index is a popular

measure of the implied volatility of S&P

500 index options.

• Often referred to as the fear index or the

fear gauge, it represents one measure of

the market's expectation of stock market

volatility over the next 30 day period

Major U.S. Indices Daily

INDICES

Description

• The S&P 500 is a stock market index

which contains the biggest 500

companies in the U.S.

• The Russell 2000 Index is a small-cap

stock market index of the bottom 2,000

stocks in the Russell 3000 Index. The

Russell 2000 is by far the most common

benchmark for mutual funds that identify

themselves as "small-cap", while the S&P

500 index is used primarily for large

capitalization stocks.

• By calculating a ratio between them,

investors are able to identify which kind

of stocks (large or small caps) are

outperforming.

Signals:

• When the ratio goes up, investors are

moving into large caps (safer names)

• When the ratio goes down, investors are

moving into small caps

Major U.S. Indices Daily [Historical]

INDICES

Description

• The S&P 500 is a stock market index

which contains the biggest 500

companies in the U.S.

• The Russell 2000 Index is a small-cap

stock market index of the bottom 2,000

stocks in the Russell 3000 Index. The

Russell 2000 is by far the most common

benchmark for mutual funds that identify

themselves as "small-cap", while the S&P

500 index is used primarily for large

capitalization stocks.

• By calculating a ratio between them,

investors are able to identify which kind

of stocks (large or small caps) are

outperforming.

Signals:

• When the ratio goes up, investors are

moving into large caps (safer names)

• When the ratio goes down,

Major U.S. Indices Daily

INDICES

Description

• Daily close price of the SPDR Gold

Trust ETF

Major U.S. Indices Daily [Historical]

INDICES

Description

• Daily close price of the SPDR Gold

Trust ETF

Major U.S. Indices Daily

INDICES

Description

• Daily Close of the Philadelphia Gold

and Silver Index

Major U.S. Indices Daily [Historical]

INDICES

Description

• Daily Close of the Philadelphia Gold

and Silver Index

Short-Term Trend Indicators

Description

• The Trend Trader Index calculates the

simple moving average of the daily

high and daily low price of the S&P

500 over the past 20 days

Signals:

• Bullish: S&P 500 is trading above the

20 days high moving average line

• Bearish: S&P 500 is trading below the

20 days low moving average line

• Additionally the direction of the

simple moving averages also give

additional information about the

trend direction

TREND INDICATORS

Short-Term Trend Indicators

Description

• Moving Average Convergence-

Divergence (MACD) is one of the

most effective momentum indicators

• MACD uses two exponential moving

averages, into a trend following or

momentum oscillator by subtracting

the longer moving average from the

shorter moving average

• The Modified MACD uses two special

moving averages (zero-lag) to

determine the overall trend-force

Signals:

• Bullish: MACD short above MACD

long

• Bearish: MACD short below MACD

long

• Watch out for divergences between

the market and the MACD

TREND INDICATORS

Short-Term Trend Indicators

Description

• This center oscillator measures the

advancing stocks and declining stocks

on a 20 days basis

• The bigger the difference between the

current price and the price 20 days

ago, the higher the value of this

oscillator

Signals:

• Bullish: Gauge is trading above 0

• Bearish: Gauge is trading below 0

• This indicator is especially reliable

when a new high or low of the

market is not confirmed by

momentum

TREND INDICATORS

Short-Term Trend Indicators [Historical]

Description

• This center oscillator measures the

advancing stocks and declining stocks

on a 20 days basis

• The bigger the difference between the

current price and the price 20 days

ago, the higher the value of this

oscillator

Signals:

• Bullish: Gauge is trading above 0

• Bearish: Gauge is trading below 0

• This indicator is especially reliable

when a new high or low of the

market is not confirmed by

momentum

TREND INDICATORS

Mid-Term Trend Indicators

Description

• The Global Futures Trend Index

calculates the amount of stocks listed

on NYSE which are reaching weekly

new highs or weekly new lows. As

long as the gauge of this index stays

above the 60% level there is a solid

bullish trend in progress

Signals:

• Bullish: Global Futures Trend Index

above 0.6

• Bearish: Global Futures Trend Index

below 0.2

• Watch out for divergences!

TREND INDICATORS

Mid-Term Trend Indicators [Historical]

Description

• The Global Futures Trend Index

calculates the amount of stocks listed

on NYSE which are reaching weekly

new highs or weekly new lows. As

long as the gauge of this index stays

above the 60% level there is a solid

bullish trend in progress

Signals:

• Bullish: Global Futures Trend Index

above 0.6

• Bearish: Global Futures Trend Index

below 0.2

• Watch out for divergences!

TREND INDICATORS

Mid-Term Trend Indicators

Description

• The WSC Sector Momentum

measures the relative strengths of all

nine SPDR Sector ETFs which are

being used for the WSC Sector

Rotation Strategy. As long as the

gauge of this indicators remains

above 0, the S&P 500 remains in a

mid-term uptrend. In addition, this

indicator acts as risk-management

tool for the WSC Sector Rotation

Strategy. If the gauge of this indicator

is below 0, the WSC Sector Rotation

Strategy will switch to its most

defensive allocation.

Signals:

• Bullish: Index above 0

• Bearish: Index below 0

• Watch out for divergences!

TREND INDICATORS

Mid-Term Trend Indicators [Historical]

Description

• The WSC Sector Momentum

measures the relative strengths of all

nine SPDR Sector ETFs which are

being used for the WSC Sector

Rotation Strategy. As long as the

gauge of this indicators remains

above 0, the S&P 500 remains in a

mid-term uptrend. In addition, this

indicator acts as risk-management

tool for the WSC Sector Rotation

Strategy. If the gauge of this indicator

is below 0, the WSC Sector Rotation

Strategy will switch to its most

defensive allocation.

Signals:

• Bullish: Index above 0

• Bearish: Index below 0

• Watch out for divergences!

TREND INDICATORS

Long Term Trend Indicators

Description

• The Global Futures Long Term Trend

Index is a long term trend index which

is perfectly suitable for long term

investors

• Long term investors should switch into

less risky assets if this indicator

flashes a sell signal

• As this indicator is a long term trend

follower, investors will face a late in

late out scenario

Signals:

• Bullish: WSC GF Long-Term Trend

Index above 0

• Bearish: WSC GF Long-Term Trend

Index below 0

• Additionally the direction of the

indicator also give additional

information about the trend

direction

TREND INDICATORS

Long Term Trend Indicators [Historical]

Description

• The Global Futures Long Term Trend

Index is a long term trend index which

is perfectly suitable for long term

investors

• Long term investors should switch into

less risky assets if this indicator

flashes a sell signal

• As this indicator is a long term trend

follower, investors will face a late in

late out scenario

Signals:

• Bullish: WSC GF Long-Term Trend

Index above 0

• Bearish: WSC GF Long-Term Trend

Index below 0

• Additionally the direction of the

indicator also give additional

information about the trend

direction

TREND INDICATORS

Long-Term Trend Indicators

Description

• The WallStreetCourier Global

Momentum Indicator measures the

percentage of 36 global stock market

ETFs, which are having a higher

momentum scoring than riskless

money market within our Global ETF

Momentum Heat Map. The

momentum score measures the trend

direction and the relative strengths of

each underlying market within 3

different time periods. So therefore,

this indicator gives a good picture,

how many global markets are in

strong long-term up-/down-trend.

Signals:

• Bullish: Index above 0

• Bearish: Index below 0

• Watch out for divergences!

TREND INDICATORS

Long-Term Trend Indicators [Historical]

Description

• The WallStreetCourier Global

Momentum Indicator measures the

percentage of 36 global stock market

ETFs, which are having a higher

momentum scoring than riskless

money market within our Global ETF

Momentum Heat Map. The

momentum score measures the trend

direction and the relative strengths of

each underlying market within 3

different time periods. So therefore,

this indicator gives a good picture,

how many global markets are in

strong long-term up-/down-trend.

Signals:

• Bullish: Index above 0

• Bearish: Index below 0

• Watch out for divergences!

TREND INDICATORS

Long-Term Trend Indicators

Description

• This indicator measures the relative

strengths of global equities,

commodities and U.S. Treasuries.

Markets which are trading above 0

and which are trading above other

markets should be preferred. If

riskless U.S. Treasuries are trading

above 0, the technical market

environment for risky asset classes

remain outright weak.

Signals:

• Bullish: Index above 0

• Bearish: Index below 0

• Watch out for divergences!

TREND INDICATORS

Long-Term Trend Indicators [Historical]

Description

• This indicator measures the relative

strengths of global equities,

commodities and U.S. Treasuries.

Markets which are trading above 0

and which are trading above other

markets should be preferred. If

riskless U.S. Treasuries are trading

above 0, the technical market

environment for risky asset classes

remain outright weak.

Signals:

• Bullish: Treasuries below 0

• Bearish: Treasuries above 0

• Watch out for divergences!

TREND INDICATORS

Short-Term Market Breadth Indicators

Description

• Represents shares traded in all

markets for all NYSE-listed issues

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• This indicator is calculated by dividing

the daily upside and downside

volumes by the daily total volume.

• If prices move steadily upward (strong

uptrend) with strong volume, this

indicates that buyers are accumulating

shares

• A healthy market should be supported

by strong up volume

Signals:

• Bullish: Up-volume above down-

volume

• Bearish: Up-volume below down-

volume

• Divergences between the market

and volume should be monitored

closely as a trend reversal could be

ahead!

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• This indicator is derived from the daily

net advances, the number of

advancing issues less the number of

declining issues

• By applying 2 exponential moving

averages (short and longer one) of net

advances this is a perfect momentum

as well as breadth indicator

• This indicator uses two special moving

averages (zero-lag) to determine the

overall breadth-force

Signals:

• Bullish: McClellan short above

McClellan long

• Bearish: McClellan short below

McClellan long

• Watch out for divergences between

the market and the McClellan

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• This indicator is derived from the daily

net up-volume, the amount of up-

volume less the amount of down-

volume

• By applying 2 exponential moving

averages (short and longer one) of net

up-volume this is a perfect momentum

as well as breadth indicator

• This indicator uses two special moving

averages (zero-lag) to determine the

overall breadth-force

Signals:

• Bullish: McClellan Volume short above

McClellan Volume long

• Bearish: McClellan Volume short

below McClellan Volume long

• Watch out for divergences between

the market and the McClellan

Volume

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The % of NYSE stocks trading above

a specific simple moving average is a

breadth indicator that measures

internal strength or weakness in the

underlying index as well as the degree

of participation

• A healthy market should be supported

by a high degree of participation

Signals:

• Bullish: Gauge above 0

• Bearish: Gauge below 0

• Watch out for divergences!

BREADTH INDICATORS

Short-Term Market Breadth Indicators [Historical]

Description

• The % of NYSE stocks trading above

a specific simple moving average is a

breadth indicator that measures

internal strength or weakness in the

underlying index as well as the degree

of participation

• A healthy market should be supported

by a high degree of participation

Signals:

• Bullish: Gauge above 0

• Bearish: Gauge below 0

• Watch out for divergences!

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• This indicator shows new highs and

new lows made on Nyse

Signals:

• Bullish: New highs above new lows

• Bearish: New highs below new lows

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The High-Low Index is a breadth

indicator based on new highs and new

lows made on Nyse

• New high refers to the number of

stocks reaching a new 52-week high

• New low refers to the number of

stocks reaching a new 52-week low

• The High-Low Index is a measure of

underlying strength or weakness of

the S&P 500.

Signals:

• Bullish: New highs above new lows

• Bearish: New highs below new lows

• Watch out for divergences between

the market and the # of new highs

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The Advance Decline Line Daily is a

breadth indicator based on daily net

advances made on Nyse, which is the

number of advancing stocks less the

number of declining stocks

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Short-Term Market Breadth Indicators [Historical]

Description

• The Advance Decline Line Daily is a

breadth indicator based on daily net

advances made on Nyse, which is the

number of advancing stocks less the

number of declining stocks

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The Advance Decline Line in Percent

is a breadth indicator based on daily

net advances made on Nyse, which is

the number of advancing stocks less

the number of declining stocks,

expressed aspercentage terms

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The Advance Decline Volume Line in

Percent is a breadth indicator based

on daily net volume, which is the

volume of advancing stocks less the

volume of declining stocks

• Net advancing volume is positive

when advancing volume exceeds

declining volume and negative when

declining volume exceed advancing

volume

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The Upside-Downside Volume Ratio is

a banded oscillator. It is calculated by

dividing the volume of advancing

issues by the volume of declining

issues, using daily NYSE data

• If the volume of advancing issues is

reaching a predefined level, this

indicator is flashing an overbought

signal or the other way round

Signals:

• Bullish: Gauge above 1.6

• Bearish: Gauge below 0.6

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The Advance-Decline Ratio is a

banded oscillator. It is calculated by

dividing the number of advancing

issues by the number of declining

issues using daily NYSE data

• If the advancing issues are reaching a

predefined level, this indicator is

flashing an overbought signal or the

other way round.

Signals:

• Bullish: Gauge above 1.6

• Bearish: Gauge below 0.8

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• The TRIN was invented over 30 years

ago by Richard Arms and is also

known as ARMS Index

• It is calculated by dividing daily

advancing issues by daily declining

issues and weekly advancing volume

by daily declining volume

• The first result is then divided by the

latter and the result is the TRIN

Signals:

• Bullish: Gauge below 0.8

• Bearish: Gauge above 1.5

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Short-Term Market Breadth Indicators

Description

• This indicator is based on the volume

of all NYSE-listed stocks that go up or

down on a given day, expressed as a

percentage of the total volume of all

stocks that rose or fell on that day

• A "Nine-To-One Up Day" occurs when

this ratio is 90% or higher on a given

day.

Signals:

• Bullish: 9-to-1 up-days

• Bearish: 9-to-1 down-days

• 9-to-1 down-days also indicate

capitulation among investors

BREADTH INDICATORS

Short- to Mid-Term Market Breadth Indicators

Description

• The Short Term Trading Index was

invented over 30 years ago by

Richard Arms and is also known as

ARMS Index

• It is calculated by dividing weekly

advancing issues by weekly declining

issues and weekly advancing volume

by weekly declining volume

• The first result is then divided by the

latter and the result is the TRIN

Signals:

• Bullish: high readings

• Bearish: readings below 1

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Short- to Mid-Term Market Breadth Indicators [Historical]

Description

• The Short Term Trading Index was

invented over 30 years ago by

Richard Arms and is also known as

ARMS Index

• It is calculated by dividing weekly

advancing issues by weekly declining

issues and weekly advancing volume

by weekly declining volume

• The first result is then divided by the

latter and the result is the TRIN

Signals:

• Bullish: high readings

• Bearish: readings below 1

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Short- to Mid-Term Market Breadth Indicators

Description

• The Global Futures Advance-/Decline

Indicator is a banded oscillator

• It is calculated by subtracting up the

weekly declining issues by weekly

advancing issues, using the weekly

NYSE data

• If the advancing issues are reaching

a predefined level, this indicator is

flashing an overbought signal or the

other way round

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Short- to Mid-Term Market Breadth Indicators [Historical]

Description

• The Global Futures Advance-/Decline

Indicator is a banded oscillator

• It is calculated by subtracting up the

weekly declining issues by weekly

advancing issues, using the weekly

NYSE data

• If the advancing issues are reaching

a predefined level, this indicator is

flashing an overbought signal or the

other way round

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• This indicator is derived from the

weekly net advances, the number of

advancing issues less the number of

declining issues

• By applying 2 exponential moving

averages (short and longer one) of net

advances this is a perfect trend as

well as breadth indicator

Signals:

• Bullish: McClellan Short above

McClellan Long

• Bearish: McClellan Short below

McClellan Long

• Watch out for divergences between

the market and the gauge of the

Modified McClellan Oscillator

Weekly

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• This indicator is derived from the

weekly net advances, the number of

advancing issues less the number of

declining issues

• By applying 2 exponential moving

averages (short and longer one) of net

advances this is a perfect trend as

well as breadth indicator

Signals:

• Bullish: McClellan Short above

McClellan Long

• Bearish: McClellan Short below

McClellan Long

• Watch out for divergences between

the market and the gauge of the

Modified McClellan Oscillator

Weekly

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• This indicator is calculated by dividing

the weekly advances and declines by

the weekly total issues

• If prices move steadily upward (strong

uptrend) a broad number of stocks

should participate

• If not there is a negative divergence

between the market and breadth

Signals:

• Bullish: Advancing issues above

declining issues

• Bearish: Advancing issues below

declining issues

• Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• This indicator is calculated by dividing

the weekly advances and declines by

the weekly total issues

• If prices move steadily upward (strong

uptrend) a broad number of stocks

should participate

• If not there is a negative divergence

between the market and breadth

Signals:

• Bullish: Advancing issues above

declining issues

• Bearish: Advancing issues below

declining issues

• Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• This indicator is calculated by dividing

the weekly upside and downside

volumes by the weekly total volume

• If prices move steadily upward (strong

uptrend) with strong volume, this

indicates that buyers are accumulating

shares

• A healthy market should be supported

by strong up volume

• If not there is a negative divergence

between the market and breadth.

Signals:

• Bullish: Up-volume above down-

volume

• Bearish: Up-volume below down-

volume

• Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• This indicator is calculated by dividing

the weekly upside and downside

volumes by the weekly total volume

• If prices move steadily upward (strong

uptrend) with strong volume, this

indicates that buyers are accumulating

shares

• A healthy market should be supported

by strong up volume

• If not there is a negative divergence

between the market and breadth.

Signals:

• Bullish: Up-volume above down-

volume

• Bearish: Up-volume below down-

volume

• Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• The % of NYSE stocks trading above

a specific simple moving average is a

breadth indicator that measures

internal strength or weakness in the

underlying index as well as the degree

of participation

• A healthy market should be supported

by a high degree of participation

Signals:

• Bullish: Gauge above 0

• Bearish: Gauge below 0

• Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• The % of NYSE stocks trading above

a specific simple moving average is a

breadth indicator that measures

internal strength or weakness in the

underlying index as well as the degree

of participation

• A healthy market should be supported

by a high degree of participation

Signals:

• Bullish: Gauge above 0

• Bearish: Gauge below 0

• Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• The Global Futures Advance Decline

Line Weekly is a breadth indicator

based on weekly net advances made

on Nyse, which is the number of

advancing stocks less the number of

declining stocks

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• The Global Futures Advance Decline

Line Weekly is a breadth indicator

based on weekly net advances made

on Nyse, which is the number of

advancing stocks less the number of

declining stocks

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• The Advance Decline Line Weekly is a

breadth indicator based on weekly net

advances made on Nyse, which is the

number of advancing stocks less the

number of declining stocks

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• The Advance Decline Line Weekly is a

breadth indicator based on weekly net

advances made on Nyse, which is the

number of advancing stocks less the

number of declining stocks

• Net advances are positive when

advances exceed declines and

negative when declines exceed

advances

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences!

BREADTH INDICATORS

Mid-Term Market Breadth Indicators

Description

• The Advance Decline Volume Line

Weekly is a breadth indicator based

on weekly net volume, which is the

volume of advancing stocks less the

volume of declining stocks

• Net advancing volume is positive

when advancing volume exceeds

declining volume and negative when

declining volume exceed advancing

volume

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences

BREADTH INDICATORS

Mid-Term Market Breadth Indicators [Historical]

Description

• The Advance Decline Volume Line

Weekly is a breadth indicator based

on weekly net volume, which is the

volume of advancing stocks less the

volume of declining stocks

• Net advancing volume is positive

when advancing volume exceeds

declining volume and negative when

declining volume exceed advancing

volume

Signals:

• Bullish: Watch out for divergences!

• Bearish: Watch out for divergences

BREADTH INDICATORS

Long-Term Market Breadth Indicators

Description

• This indicator is derived from the

weekly net volume, the number of

advancing volume less the number of

declining volume

• By applying 2 exponential moving

averages (short and longer one) of net

volume this is a perfect breadth

indicator

Signals:

• Bullish: McClellan Volume Short

above McClellan Volume Long

• Bearish: McClellan Volume Short

below McClellan Volume Long

• Watch out for divergences between

the market and the gauge of the

Modified McClellan Volume

Oscillator

BREADTH INDICATORS

Long-Term Market Breadth Indicators [Historical]

Description

• This indicator is derived from the

weekly net volume, the number of

advancing volume less the number of

declining volume

• By applying 2 exponential moving

averages (short and longer one) of net

volume this is a perfect breadth

indicator

Signals:

• Bullish: McClellan Volume Short

above McClellan Volume Long

• Bearish: McClellan Volume Short

below McClellan Volume Long

• Watch out for divergences between

the market and the gauge of the

Modified McClellan Volume

Oscillator

BREADTH INDICATORS

Long-Term Market Breadth Indicators

Description

• The High-Low Index is a breadth

indicator based on new highs and new

lows made on Nyse

• New high refers to the number of

stocks reaching a new 52-week high

• New low refers to the number of

stocks reaching a new 52-week low

• The High-Low Index is a measure of

underlying strength or weakness of

the S&P 500.

Signals:

• Bullish: New highs above new lows

• Bearish: New highs below new lows

• Watch out for divergences between

the market and the # of new highs

BREADTH INDICATORS

Long-Term Market Breadth Indicators [Historical]

Description

• The High-Low Index is a breadth

indicator based on new highs and new

lows made on Nyse

• New high refers to the number of

stocks reaching a new 52-week high

• New low refers to the number of

stocks reaching a new 52-week low

• The High-Low Index is a measure of

underlying strength or weakness of

the S&P 500.

Signals:

• Bullish: New highs above new lows

• Bearish: New highs below new lows

• Watch out for divergences between

the market and the # of new highs

BREADTH INDICATORS

Long-Term Market Breadth Indicators

Description

• The % of NYSE stocks trading above

a specific simple moving average is a

breadth indicator that measures

internal strength or weakness in the

underlying index as well as the degree

of participation

• A healthy market should be supported

by a high degree of participation

Signals:

• Bullish: Gauge above 0

• Bearish: Gauge below 0

• Watch out for divergences!

BREADTH INDICATORS

Long-Term Market Breadth Indicators [Historical]

Description

• The % of NYSE stocks trading above

a specific simple moving average is a

breadth indicator that measures

internal strength or weakness in the

underlying index as well as the degree

of participation

• A healthy market should be supported

by a high degree of participation

Signals:

• Bullish: Gauge above 0

• Bearish: Gauge below 0

• Watch out for divergences!

BREADTH INDICATORS

Smart Money Indicators

Description

• The SMFI was developed by

WallStreetCourier.com in 1997 and is

a trademark of WallStreetCourier.com

• The SMFI is calculated by taking the

action of the Dow in two time periods:

the first 30 minutes and the close

• It measures if large institutional

investors are buying or selling

Signals:

• Bullish: Bullish divergences

• Bearish: Bearish divergences

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• The SMFI was developed by

WallStreetCourier.com in 1997 and is

a trademark of WallStreetCourier.com

• The SMFI is calculated by taking the

action of the Dow in two time periods:

the first 30 minutes and the close

• It measures if large institutional

investors are buying or selling

Signals:

• Bullish: Bullish divergences

• Bearish: Bearish divergences

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• The Global Futures Bottom Indicator

is derived from weekly calls and puts.

It does not appear very often but it is

extremely reliable when the market is

at a turning point

• It prevents long-term investors from

buying at the wrong time and works

especially well for option traders

because of its incredibly perfect timing.

• Unfortunately this indicator does not

tell you when to sell.

Signals:

• Bullish: Readings between 1 and 5 are

also very reliable

• Readings up to 25 may work but

should be counterchecked with other

indicators

• Bearish: NA

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• The Global Futures Bottom Indicator

is derived from weekly calls and puts.

It does not appear very often but it is

extremely reliable when the market is

at a turning point

• It prevents long-term investors from

buying at the wrong time and works

especially well for option traders

because of its incredibly perfect timing.

• Unfortunately this indicator does not

tell you when to sell.

Signals:

• Bullish: Readings between 1 and 5 are

also very reliable

• Readings up to 25 may work but

should be counterchecked with other

indicators

• Bearish: NA

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• The WSC Index is based on 15

different price information (option data,

upticks/downticks data, new highs and

lows etc). This indicator is a leading

indicator as it leads the price move

Signals:

• Bullish: Gauge below 2

• Bearish: Gauge above 2

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• The WSC Index is based on 15

different price information (option data,

upticks/downticks data, new highs and

lows etc). This indicator is a leading

indicator as it leads the price move

Signals:

• Bullish: Gauge below 2

• Bearish: Gauge above 2

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• The WSC Index Oscillator is based on

15 different price information (option

data, upticks/downticks data, new

highs and lows etc). This indicator is a

leading indicator as it leads the price

move.

Signals:

• Bullish: Gauge below 2

• Bearish: Gauge above 2

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• The WSC Index Oscillator is based on

15 different price information (option

data, upticks/downticks data, new

highs and lows etc). This indicator is a

leading indicator as it leads the price

move.

Signals:

• Bullish: Gauge below 2

• Bearish: Gauge above 2

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• This indicator, like the Global Futures

Bottom Indicator, is unknown until now

to the investment community and is

not available anywhere else

• The Global Futures Timing Indicator

prevents investors from buying at the

wrong time and it works also very well

for option- and position traders

Signals:

• Bullish: Gauge below 1

• Bearish: NA

• Use only in combination with trend-

and breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• This indicator, like the Global Futures

Bottom Indicator, is unknown until now

to the investment community and is

not available anywhere else

• The Global Futures Timing Indicator

prevents investors from buying at the

wrong time and it works also very well

for option- and position traders

Signals:

• Bullish: Gauge below 1

• Bearish: NA

• Use only in combination with trend-

and breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• The Global Futures Market Timer

Index is a proprietary indicator of

Global Futures and not available

anywhere else

• It was unknown until now to the

investment community and to our

knowledge there is no previous

mentioning of this indicator in any

financial publication

Signals:

• Bullish: Gauge below -0.3

• Bearish: NA

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• The Global Futures Market Timer

Index is a proprietary indicator of

Global Futures and not available

anywhere else

• It was unknown until now to the

investment community and to our

knowledge there is no previous

mentioning of this indicator in any

financial publication

Signals:

• Bullish: Gauge below -0.3

• Bearish: NA

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• The Uptick-/Downtick Ratio is

calculated from the number of upticks

and downticks in large block

transactions of single trades of 10,000

shares and over.

• The rationale behind the Uptick-

/Downtick Ratio is quite simple. It

measures activities and extremes in

institutional sentiment and behavior

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• The Uptick-/Downtick Ratio is

calculated from the number of upticks

and downticks in large block

transactions of single trades of 10,000

shares and over.

• The rationale behind the Uptick-

/Downtick Ratio is quite simple. It

measures activities and extremes in

institutional sentiment and behavior

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators

Description

• NYSE Members Margin Debt is the

aggregated dollar value of issues

bought on margin (i.e., borrowed

money) across the exchange, from

one of the biggest names of Wall

Street

Signals:

• Bullish: Bullish divergences

• Bearish: Bearish divergences

• Watch out for divergences!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Smart Money Indicators [Historical]

Description

• NYSE Members Margin Debt is the

aggregated dollar value of issues

bought on margin (i.e., borrowed

money) across the exchange, from

one of the biggest names of Wall

Street

Signals:

• Bullish: Bullish divergences

• Bearish: Bearish divergences

• Watch out for divergences!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The WSC Capitulation Index is

calculated according to a proprietary

formula.

• It measures the divergence between

the famous Smart Money Flow Index

and the Dow Jones Industrial Average

• It also shows bottoms when the so

called "crowd" gets too bearish

• It does not appear very often but it is

extremely reliable when the market is

at a turning point

• It prevents long-term investors from

buying at the wrong time and works

especially well for option traders

because of its incredibly perfect timing

Signals:

• Bullish: Drop of the WSC CI by half of

its rise

• Bearish: Increasing WSC CI

• Bullish: WSC Fisher below 0.7

• Bullish: WSC Fisher above 0.7

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The WSC Capitulation Index is

calculated according to a proprietary

formula.

• It measures the divergence between

the famous Smart Money Flow Index

and the Dow Jones Industrial Average

• It also shows bottoms when the so

called "crowd" gets too bearish

• It does not appear very often but it is

extremely reliable when the market is

at a turning point

• It prevents long-term investors from

buying at the wrong time and works

especially well for option traders

because of its incredibly perfect timing

Signals:

• Bullish: Drop of the WSC CI by half of

its rise

• Bearish: Increasing WSC CI

• Bullish: WSC Fisher below 0.7

• Bullish: WSC Fisher above 0.7

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Odd Lot Short Sales is a market

sentiment indicator that measures the

daily short sales from the Odd Lots.

• Odd Lots are transaction involving

less than 100 shares (Dumb Money)

• The contrarian theory assumes that

odd lots are inexperienced and

therefore always wrong

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Odd Differential Index is a market

sentiment indicator

• This index is simply calculated by

subtracting the daily or weekly odd-lot

sales from the daily or weekly odd-lot

purchases

• High readings appear near market

tops and minus readings near bottoms

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Odd Lot Sales Ratio is a dumb

money indicator that measures the

daily ratio of odd lot purchases

compared to odd lot sales

transactions

• Odd Lots are transaction involving

less than 100 shares (Dumb Money).

The contrarian theory assumes that

odd lots are inexperienced and

therefore always wrong

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The Odd Lot Sales Ratio is a dumb

money indicator that measures the

daily ratio of odd lot purchases

compared to odd lot sales

transactions

• Odd Lots are transaction involving

less than 100 shares (Dumb Money).

The contrarian theory assumes that

odd lots are inexperienced and

therefore always wrong

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Odd Lot Purchases/Nyse Volume

is a market sentiment indicator that

measures the daily ratio of odd lot

purchases compared to total Nyse

volume

• Odd Lots are transaction involving

less than 100 shares (Dumb Money)

• The contrarian theory assumes that

odd lots are inexperienced and

therefore always wrong

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The Odd Lot Purchases/Nyse Volume

is a market sentiment indicator that

measures the daily ratio of odd lot

purchases compared to total Nyse

volume

• Odd Lots are transaction involving

less than 100 shares (Dumb Money)

• The contrarian theory assumes that

odd lots are inexperienced and

therefore always wrong

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Global Futures Dumb Money

Indicator is calculated according to a

proprietary formula

• It shows tops when the so called

"crowd" gets too bullish. Some of the

components of this indicator are the

Global Futures Sentiment Index, the

CBOE call/put ratio of equity options

and the ISE Sentiment Index

Signals:

• Bullish: Low readings

• Bearish: Gauge above 5

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The Global Futures Dumb Money

Indicator is calculated according to a

proprietary formula

• It shows tops when the so called

"crowd" gets too bullish. Some of the

components of this indicator are the

Global Futures Sentiment Index, the

CBOE call/put ratio of equity options

and the ISE Sentiment Index

Signals:

• Bullish: Low readings

• Bearish: Gauge above 5

• Use only in combination with

breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Chicago Board Options Exchange

Market Volatility Index is a popular

measure of the implied volatility of

S&P 500 index options

• The Volatility Index Oscillator

measures the momentum of the VIX

Index. If the gauge of this indicator is

rising caution is warranted

Signals:

• Bullish: Gauge below 0

• Bearish: Gauge above 0

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The Chicago Board Options Exchange

Market Volatility Index is a popular

measure of the implied volatility of

S&P 500 index options

• The Volatility Index Oscillator

measures the momentum of the VIX

Index. If the gauge of this indicator is

rising caution is warranted

Signals:

• Bullish: Gauge below 0

• Bearish: Gauge above 0

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The Global Futures Trading Index is a

proprietary indicator of Global Futures.

It shows bottoms and tops in trends

and should be used together with the

Global Futures Trend Index for exact

timing

Signals:

• Bullish: Gauge above 1

• Bearish: Gauge below 1

• Use only in combination with the

Global Futures Trend Index

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The Global Futures Trading Index is a

proprietary indicator of Global Futures.

It shows bottoms and tops in trends

and should be used together with the

Global Futures Trend Index for exact

timing

Signals:

• Bullish: Gauge above 1

• Bearish: Gauge below 1

• Use only in combination with the

Global Futures Trend Index

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

• The Global Futures Put/Volume Ratio

measures the amount of puts versus

the overall NYSE Volume

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

• The Global Futures Put/Volume Ratio

measures the amount of puts versus

the overall NYSE Volume

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

• The Global Futures Put/Volume Ratio

Oscillator measures the momentum of

the Global Futures Put/Volume Ratio

Signals:

• Bullish: Gauge above 2

• Bearish: Gauge below -2

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

• The Global Futures Put/Volume Ratio

Oscillator measures the momentum of

the Global Futures Put/Volume Ratio

Signals:

• Bullish: Gauge above 2

• Bearish: Gauge below -2

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators

Description

• Every short seller anticipates a

declining stock market. Investors sell

short stock when they anticipate its

price going lower.

• Sooner or later they must cover their

short sales by buying back the stock.

A profit is made if the stock is bought

back at a lower price than when it was

sold short. When a large amount of

short selling activity is occurring,

market participants obviously expect

prices to head lower.

• The NYSE Short Interest Ratio is

therefore a long-term contrary opinion

sentiment indicator. It is calculated by

dividing the monthly short interest

figure released by the New York Stock

Exchange by the average volume of

trading per day.

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Dumb Money Indicators [Historical]

Description

• Every short seller anticipates a

declining stock market. Investors sell

short stock when they anticipate its

price going lower.

• Sooner or later they must cover their

short sales by buying back the stock.

A profit is made if the stock is bought

back at a lower price than when it was

sold short. When a large amount of

short selling activity is occurring,

market participants obviously expect

prices to head lower.

• The NYSE Short Interest Ratio is

therefore a long-term contrary opinion

sentiment indicator. It is calculated by

dividing the monthly short interest

figure released by the New York Stock

Exchange by the average volume of

trading per day.

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge above 1

• Bearish: Gauge below -1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Low readings

• Bearish: High readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Low readings

• Bearish: High readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Low readings

• Bearish: High readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Low readings

• Bearish: High readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Low readings

• Bearish: High readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Low readings

• Bearish: High readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge above 1

• Bearish: Gauge below -1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: Gauge above 1

• Bearish: Gauge below -1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The buying and selling activity for puts

and calls can be used to help gauge

investor sentiment in the market

Signals:

• Bullish: High readings

• Bearish: Low readings

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators

Description

• The ISEE Sentiment Index is a unique

call/put ratio that only uses opening

long customer(small traders)

transactions to calculate

bullish/bearish market direction

• Opening long transactions are thought

to best represent market sentiment

because investors often buy call and

put options to express their actual

market view of a particular stock

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Option Indicators [Historical]

Description

• The ISEE Sentiment Index is a unique

call/put ratio that only uses opening

long customer(small traders)

transactions to calculate

bullish/bearish market direction

• Opening long transactions are thought

to best represent market sentiment

because investors often buy call and

put options to express their actual

market view of a particular stock

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Use only in combination with trend-

/breadth indicators

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators

Description

• Each week a poll of market letters is

taken to determine the degree of

bullishness or bearishness among

futures professionals

• The theory is that when an extreme

number of participants are bullish,

they are already positioned on the

long side and there is little potential

buying power left

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators [Historical]

Description

• Each week a poll of market letters is

taken to determine the degree of

bullishness or bearishness among

futures professionals

• The theory is that when an extreme

number of participants are bullish,

they are already positioned on the

long side and there is little potential

buying power left

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators

Description

• Every week the AAII now polls its

170,000 members daily. Respondents

indicate how they feel about the

market's performance in the next six

months

• The Bull & Bear AII shows the number

of bulls divided by the number of

bears

Signals:

• Bullish: Bullish divergences

• Bearish: Bearish divergences

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators [Historical]

Description

• Every week the AAII now polls its

170,000 members daily. Respondents

indicate how they feel about the

market's performance in the next six

months

• The Bull & Bear AII shows the number

of bulls divided by the number of

bears

Signals:

• Bullish: Bullish divergences

• Bearish: Bearish divergences

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators

Description

• Every week the AAII now polls its

170,000 members daily. Respondents

indicate how they feel about the

market's performance in the next six

months

• The Bull & Bear AII shows the number

of bulls divided by the number of

bears

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators [Historical]

Description

• Every week the AAII now polls its

170,000 members daily. Respondents

indicate how they feel about the

market's performance in the next six

months

• The Bull & Bear AII shows the number

of bulls divided by the number of

bears

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators

Description

• The Global Futures Sentiment Index is

based on data from Market Vane and

from the Association of Individual

Investors (AII).

• High readings appear near market

tops and low readings near bottoms

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Sentiment Indicators [Historical]

Description

• The Global Futures Sentiment Index is

based on data from Market Vane and

from the Association of Individual

Investors (AII).

• High readings appear near market

tops and low readings near bottoms

Signals:

• Bullish: Gauge below -1

• Bearish: Gauge above 1

• Extreme readings often pinpoint

market turns!

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Hindenburg Omen

Description

• The Hindenburg omen was developed

to predict the potential for a financial

market crash. Criteria for the

Hindenburg Omen:

• The daily number of NYSE new 52-

week highs and the daily number of

new 52-week lows must both be

greater than 2.2% of total NYSE

issues traded that day.

• The NYSE's 10-week moving

average is rising.

• The McClellan Oscillator is negative

• New 52-week highs cannot be more

than twice the new 52-week lows.

• Each condition must occur on the

same day

Signals:

• Bearish: Once the signal has occurred,

it is valid for 30 days, and any

additional signals given during the 30-

day period should be ignored.

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

Hindenburg Omen [Historical]

Description

• The Hindenburg omen was developed

to predict the potential for a financial

market crash. Criteria for the

Hindenburg Omen:

• The daily number of NYSE new 52-

week highs and the daily number of

new 52-week lows must both be

greater than 2.2% of total NYSE

issues traded that day.

• The NYSE's 10-week moving

average is rising.

• The McClellan Oscillator is negative

• New 52-week highs cannot be more

than twice the new 52-week lows.

• Each condition must occur on the

same day

Signals:

• Bearish: Once the signal has occurred,

it is valid for 30 days, and any

additional signals given during the 30-

day period should be ignored.

CONTRARIAN-/SMART- & DUMB MONEY INDICATORS

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