The Complete Guide to Market Breadth Indicators

by Gregory Morris

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Product Description

Market breadth indicators, i.e. advance/decline, new high/new low, or up/down volume, allow technical analysts and traders to look beneath the surface of a market to quantify the underlying strength or direction associated with a market move. Increasingly popular in all types of markets, they give traders the ability to accurately forecast a number of possible outcomes and the likelihood of each.

Bottom line? For gauging the near-term direction and strength of a market, breadth indicators are among the single most valuable tools a trader can use.

The Complete Guide to Market Breadth Indicators is the most comprehensive and vivid collection available of market breadth indicator information and features ideas and insights from market veterans including John Murphy, Don Beasley, Jim Miekka, Tom and Sherman McClellan, and numerous others. Chapters are first categorized based upon the mathematical relationship between the breadth pairs. Each indicator is then analyzed to provide information including:

Also known as--other names by which the indicator is recognized
Author/creator--when available
Data components required--components of breadth data required to calculate the indicator
Description--brief description of the indicator
Interpretation--generally accepted industry interpretation of the indicator, with techniques of different analysts also discussed
Chart--Chart or charts that best display the indicator
Author comments--Greg Morris's personal interpretation, opinion, and use of the indicator, along with suggested modifications, complementary indicators, and more
Formula--An algebraic formula for the indicator or, for formulae that are too complex for this section, a descriptive narrative on the formula
References--An indicator-specific bibliography for additional information on the indicator or its creator, with notes about a particular book or magazine article

Breadth analysis is one of the purest measures of market liquidity. Applicable to virtually any exchange or index of securities for which breadth data is available, it represents the best available footprint of the health and near-term direction of the overall market examined. The Complete Guide to Market Breadth Indicators is the first book to delve into the use, mathematics, and interpretation of the most popular and proven of these tools, and is an invaluable reference for technical traders and investors of all types, and in every market.

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All Customer Reviews
Average Customer Review: 3.5 out of 5 stars

2 of 2 people found the following review helpful:

3 out of 5 stars

Encyclopedic coverage of breadth indicators, 2008-11-28
If you want to know what other people have said about market breadth indicators, this book contains a good encyclopedic coverage. This can be valuable if that is what you are looking for. The book also provides some synthesis, e.g. the author groups different indicators based on their similaries.

However, the author doesn't try much to go further than this. There is no serious test of what works and what doesn't work. Had the author pushed himself a bit further in providing a synthesis I would have dished out four stars.

I have written several short reviews on trading books. The best way is to compare the score on the books I've read. Many reviews on amazon.com are just glorious 5 star reviews. I use all five categories; sorry but everything isn't "great". Books rated 5 are very good. Books rated 4 are good solid books well worth reading. Books rated 3 can be bought by some people who read a lot or have very specific needs. Books rated 1 or 2 I would not recommend buying or reading. Naturally all in my humble opinion.

1 of 2 people found the following review helpful:

2 out of 5 stars

Not for the average investor, 2008-02-08
Probably a good book for the professional trader ??, but not a good book for the individual investor. The summary for each breath indicator is clearly explained, but direction of the charts are unclear.

2 of 3 people found the following review helpful:

5 out of 5 stars

Really rather a good (make that excellent) book, 2008-01-07
Mr. Morris compactly covers every imaginable use of New Highs, New Lows, Up Volume, Down Volume, Advancing Issues and Declining Issues. All, that is, except the one his book inspired me to write.

Presented is the construction, how the originator of the idea envisions it use, Mr. Morris' thoughts as a result of using or at least working with the indicator and a chart showing what you should expect to see. I found Mr. Morris' remarks, cautious though they might have been, to be surprisingly useful.

If you don't already know all there is to know about breadth indicators, you may well profit from this book. My only problem is how to write the code to turn a couple of the items presented in the book, along with my variation, into a system. That will require only time and effort and, I am sure will repay the time and capital I put into the book by several orders of magnitude.

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