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Finance Dictionary and Glossary of Investment Terms
A market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. It is primarily used for short and intermediate term trading.To calculate subtract a 39 day EMA (of advancing issues - declining issues) from a 19 day EMA (of advancing issues - declining issues).Simplified, it looks as follows: (19 Day EMA of Advances - Declines) - (39 Day EMA of Advances - Declines)
A technical analysis indicator which uses NYSE market breadth to judge the strength of a market move in the near term. Calculated by subtracting a 39-day exponential moving average of the difference between advancing issues and declining issues on the NYSE from a 19-day exponential moving average of the same difference.