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   Open-10 TRIN     
OPEN-10 TRIN

Overview

The Open-10 TRIN is a smoothed variation of the Arms Index. It is a market breadth indicator that uses advancing/declining volume and advancing/declining issues to measure the strength of the market.


Interpretation

The interpretation of Open-10 TRIN (also called the Open Trading Index) is similar to the interpretation of the "normal" TRIN.

Readings above 0.90 are generally con-sidered bearish and readings below 0.90 are considered bullish.

The following table was reprinted from Peter Eliades' Stock Market Cycles. It shows what the DJIA did after the 10-day TRIN rose above the level of one. Impressive...

Table 9
1st Reading &#gt; 1.0 Days to Final Low Next Market Move
May 23, 1984 3 60-point rally
June 15, 1984 1 63-point rally
July 20, 1984 3 165-point rally
October 10, 1984 0 88-point rally
November 16, 1984 1 45-point rally
December 5, 1984 3 69-point rally
January 3, 1985 1 130-point rally
March 15, 1985 1 48-point rally
April 30, 1985 2 96-point rally
June 19, 1985 3 78-point rally

I created a similar table for the period 1985 through 1988. The table appears below.

Table 10
1st Reading &#gt; 1.0 Days to Final Low Next Market Move
June 19, 1985 0 60-point rally
January 8, 1986 2 302-point rally
April 30, 1986 N/A 16 point rally
July 15, 1986 0 41-point rally
September 11, 1986 1 141-point rally
January 2, 1987 0 445-point rally
October 15, 1987 2 289-point rally
November 13, 1987 4 68-point rally
November 27, 1987 5 285-point rally
January 14, 1988 5 285-point rally
February 8, 1988 5 79-point rally
March 11, 1988 0 53-point rally
April 4, 1988 0 127-point rally
May 12, 1988 0 39-point rally
May 17, 1988 4 211-point rally
July 1, 1988 N/A 78-point rally
August 12, 1988 7 111-point rally
November 16, 1988 0 309-point rally
October 30, 1989 5 171-point rally
December 18, 1989 2 109-point rally


Calculation

The Open-10 TRIN is calculated by keeping a 10-day total of each of the TRIN's components before performing the TRIN calculation.

 


 






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