FOR IWM SMALL-CAP FOLKS:
Added the FORCE INDEX to the 5min IWM. Setting at 55 is arbitrary.
Force is a price-volume oscillator, measuring the balance of power behind a move, created by Dr. Elder.
You’d think that a “forceful” move (which it registered late Friday) would be bullish, but it has “always” marked a temporary top. Friday it told us that even if today spikes up more (it did), it would mark a temporary top, and give back….
Can only track 20 day, which is the limit for 5min charts
I’ve only been “watching” it for a couple months, so it is still on “test”.
Anyone with info or updates, please post
FORCE INDEXhttp://stockcharts.com/articles/mailbag ... l?st=force