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Article Archive For Thomas Aspray

  • Demand Oscillator momentum by Thomas Aspray

    ARTICLE SYNOPSIS ...Demand Oscillator momentum by Thomas Aspray The Demand Index developed by James Sibbett and its counterpart, the Demand Oscillator, are quite useful in identifying accumulation or distribution in both stocks and commodities. (See ""Fine-tuning the Demand Index,"" Stocks & Commodities, June 1986.) The Demand Index is a combination of price and volume, calculated as buying pressure (BP) and selling pressure (SP). I feel the Demand Oscillator makes signals from the Demand Index easier to interpret and identifies false index signals. To plot the Demand Oscillator, first calculate Buying Pressure...

  • Traditional chart analysis: A neglected tool? by Thomas Aspray

    ARTICLE SYNOPSIS ...Traditional chart analysis: A neglected tool? by Thomas Aspray With the virtual explosion of computerized technical analysis over the past few years, some basic methods of analysis are often forgotten or at least neglected. I confess that I have even contributed to the outbreak of ""oscillatoritis"" by focusing my research and writing on developing new, computerized technical indicators. Despite this, traditional chart analysis does play an important role in my own analysis. Traditional chart analysis is a proven method of analysis and I feel it can be very useful, even for the sophisticated...

  • Individual stocks and MACD by Thomas Aspray

    ARTICLE SYNOPSIS ...Individual stocks and MACD by Thomas Aspray The Moving Average Convergence-Divergence method ? specifically MACD-Histogram (MACD-H) and MACD-Momentum (MACD-Mo) ? can be used to identify turning points in the commodity markets (See Stocks & Commodities, August and September 1988). MACD also is useful and valid for the cash indices as well as individual stocks. In this article, I will show you how these indicators work on individual stocks. Calculating MACD is a straightforward matter (Figure 1). The real work is in choosing the moving average period length. I calculate MACD-H using 10-, 20- a...

  • MACD momentum Part 2 by Thomas Aspray

    ARTICLE SYNOPSIS ...MACD momentum Part 2 by Thomas Aspray Last month I looked at how the MACD Momentum (MACD-Mo) and MACD Histogram (MACD-H) were excellent intermediate indicators for stocks as well as commodities. I also use the MACD-Mo and MACD-H on daily data, but the rules of interpretation and timing with the daily studies are somewhat different. In this article I will concentrate on daily activity in many of the major markets to help you utilize MACD studies in your own analysis. To utilize the MACD studies on daily data, it is imperative that you study the intermediate trend as determined by weekly indic...

  • Diagnosing market tops by Thomas Aspray

    ARTICLE SYNOPSIS ...Diagnosing market tops by Thomas Aspray In the June 1988 issue of Stocks & Commodities, I discussed a few of the more than 250 indicators that I use for stock market timing. I applied these indicators to some of the recent stock market bottoms. In this article, I would like to show you how these indicators reacted at several market tops, including charts of the current market. The formulas for these indicators were given in the previous article. Unfortunately, the formula for the McClellan Oscillator was incorrect. The correct formula for the McClellan Oscillator is the difference between a 1...

  • NYSE technical indicators: diagnosing market bottoms by Thomas Aspray

    ARTICLE SYNOPSIS ...NYSE technical indicators: diagnosing market bottoms by Thomas Aspray By definition, significant market bottoms or tops seem to catch the majority by surprise, especially the fundamentalists. When an important low is formed, I try to review the many technical studies that I use to determine which ones worked well and which ones didn't. On a daily basis, I run more than 250 studies on the stock market, including cash indices, advance/decline, high/lows and futures. I weight my indicators using past experience, pattern recognition, etc. In this article, we'll take a close look at how some of t...

  • MACD momentum Part 1 by Thomas Aspray

    ARTICLE SYNOPSIS ...MACD momentum Part 1 by Thomas Aspray In the fall of 1986, I completed work on a new indicator: the MACD Histogram/Momentum. As many of you are already aware, the MACD, or Convergence/Divergence, is an excellent indicator, but its signals often lag when run on weekly data. Convergence/Divergence was developed by Gerald Appel, who has created many excellent technical tools. I first presented my work on the MACD at a CompuTrac conference in 1984. At that time, very few analysts were aware of it, much less using it on the commodity markets. Now it is a widely used technical tool. I have done so...







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