gb50k

SMART $$$ wedge or DUMB $$$ wedge?

AMEX:SPY   SPDR S&P 500
First, look at the chart, then read.
Link to script at bottom

Use OBV/Price to see a price adjusted by 'On Balance Volume' - (OBV), a momentum indicator that measures positive and negative volume flow, was developed by Joseph Granville and introduced in 1963.

The indicator, together with trend lines , provides good entry/ exit points.
In the chart note the exit point before the crash.
Also, note the "wedge" - a bit lees optimistic that the 'price only' wedge for SPY             .


snapshot

SCRIPT:
On Balance Volume/Price
its OBV/Price not the inverse. Its incorrectly labeled on the first chart. Ignore and enjoy.
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