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Article Archive For Daniel E. Downing

  • A New Advance-Decline Line by Daniel E. Downing

    ARTICLE SYNOPSIS ...A New Advance-Decline Line by Daniel E. Downing Here's a trading tool that uses a unique version of the daily advance-decline line of the New York Stock Exchange (NYSE). This version helps in our short- and long-term trading of index options and stock index futures. It gives many good short-term trading signals and excellent but infrequent longer-term signals. As with all technical tools we develop, two factors are most important. First, the tool must be easy to construct and maintain, and second, the tool must use as few layers of analysis as possible, not layer upon layer of if-then conditi...

  • Advance-Decline Line Basics by Daniel E. Downing

    ARTICLE SYNOPSIS ...Advance-Decline Line Basics by Daniel E. Downing It never hurts to refresh your memory on the basics. Here's a primer on following the advance-decline line for the stock market. A stock investor who has just begun to analyze the stock market using technical analysis will invariably look at the advance-decline line. There are solid reasons for doing so, for the advance-decline line is a useful indicator not only for the stock market, but also for numerous other markets. The advance-decline line analysis package is multidimensional in that aspect. The daily advance-decline line is the most com...

  • Using The Tick In A Short-Term Indicator by Daniel E. Downing

    ARTICLE SYNOPSIS ...Using The Tick In A Short-Term Indicator by Daniel E. Downing The tick index, the net difference of the number of stocks last traded on an uptick from those last traded on a downtick, is a well-known indicator, but it's got a problem. The raw number result is volatile, perhaps too volatile for some. What to do? Here, then, is a way to smooth out the noise to identify short-term trading opportunities. The tick is a basic unit for the markets, watched with fascination during periods of turmoil and periods of enthusiasm. It is quoted throughout the day on most quote services. In addition, the ...

  • On-Balance Volume And The Dow Jones Utility Index by Daniel E. Downing

    ARTICLE SYNOPSIS ...On-Balance Volume And The Dow Jones Utility Index by Daniel E. Downing Between Thursday, October 19, 1990, and Monday, October 22, 1990, the Dow Jones Industrial Average (DJIA) gained more than 127 points. More important than the points gained in the DJIA, however, is the volume on which the gain occurred, as well as the small point gain (3.4 points) that occurred in the Dow Jones Utility Index. The on-balance volume (OBV) line for the New York Composite Index (an index of every stock listed on the New York Stock Exchange) and the price chart for Dow Jones Utility Index both broke out above l...

  • Take A Look At The Dow by Daniel E. Downing

    ARTICLE SYNOPSIS ...Take A Look At The Dow by Daniel E. Downing In the past, one of the first requirements of being a technical analyst was a promise of sorts to ignore the price action of the Dow Jones Industrial Average. A technician had to focus on the action of more broadly based stock averages such as the New York Composite Index, the Standard & Poor's 500, or the Value Line Index to get an understanding of what the market was doing. The thinking behind this was that the price action of these more broadly based indices gave a truer picture of what was going on in the stock market and better represented the ...

  • Two Filtered Indicators by Daniel E. Downing

    ARTICLE SYNOPSIS ...Two Filtered Indicators by Daniel E. Downing By filtering two indicators, my firm and I discovered the Friday tick indicator and the last hour/ first hour indicator. These new indicators have shown an interesting relationship to the equity markets over the intermediate term, which we define as a period of four to six weeks. The indicators are easy to derive and follow. We came upon the idea of the filter when we were discussing whether any one day of the week is more significant than the others for the markets. We agreed that Friday was the most important day for trading, and so we decided t...

  • A new indicator for the S&P stock index futures by Daniel E. Downing

    ARTICLE SYNOPSIS ...A new indicator for the S&P stock index futures by Daniel E. Downing Little is new in the field of technical analysis. Even with a staff of seven analysts, my firm can take credit for developing only three entirely new technical tools for the markets. We spend most of our time rearranging existing technical indicators into new combinations. It is a ""new"" combination of ""old"" indicators that has proved to be a reliable indicator during the last six months for determining the intermediate-term trend for the Standard & Poor's stock index futures. For my purposes here, the intermediate-term t...






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