4 replies to this topic

[selecto]

[CLK]

Unfortunately, I think were going to get scorched.

It's a shame you have to check them all, so much work.

[mortiz]

Selecto, Wonder what is being used as the data source for the weekly AD $NYSI chart? Using Barrons weekly AD data, which goes back to the 1940s, the NYSI is currently +1400. The +1400 number is ratio adjusted using "1000" as the multiplier, which is the typical scalar used in ratio adjusted McClellan summation indices. The data used in the posted charts are not raw numbers either, since the NYSI would be much higher than +1400. I doubt your source is using weekly common AD numbers either, since the weekly common AD McSum is currently at +748 and its pattern is significantly different. The rollover in the chart's $NYSI is also suspect in that a rollover would suggest a negative MCO, since the weekly NY AD MCO is currently +37 and has not been negative since July. The source's $NASI data is closer to the Barron's "standard" data which is at +118 currently. I apologize for splitting hairs with your source's data (you just use what is provided), but I would drop them a note asking what is being used for raw weekly data. Maybe the Dow Jones company's data is wrong, but since Dow Jones serves as the data cruncher for much of the NYSE's official data, one would have to give some credibility to the Barrons data. Barrons calculates their weekly AD data by comparing the weekly close of each issue with the prior weekly closing price. The current configuration of the Barrons-based weekly NYSI data suggests all is currently well for longer term liquidity, and paints a different picture than what the posted charts are implying, i.e. a loss in week over week money inflow momentum into the NYSE group of issues. Randy N.

[selecto]

Thanks, Randy. I don't know what to say. Those are from Stockcharts. Decisionpoint daily looks the same as Stockcharts.
(I seldom even glance at "values" when I make these things up, I am looking for "cool."
Mike

Edited by selecto, 01 January 2007 - 02:33 PM.

[mortiz]

Mike,

I checked out StockCharts and see what they're doing with the weekly $NYSI... just taking each Friday's "daily" value and calling it the weekly. From a purist's stand point, that approach is disappointing, I figured StockCharts would utilize more rigor than that....

Anyway, although your charts are far more pleasing to the eye, this link has a "homemade" example of the weekly composite $NYSI using the Barrons weekly AD data (along with some BS added):

Weekly NYSE McSum

The charts haven't been updated to reflect last week's action, but the McSum is 37 points higher now and the weekly AD MCO has bounced from its former long term resistance line.

My intent of bringing this up was not to be critical (was confused with the values) and I understand one can only assume StockCharts' data is legitimate. When I saw the SC weekly $NYSI pattern, I immediately double checked all the math for the homemade derivations to ensure their accuracy .

Thanks for continuing to share your market work, good stuff, and are posts I always read.

A happy and prosperous New Year to you!

Randy