The Value Line Geometric Composite Index is the original index released, and launched on June 30, 1961. It is an equally weighted index using a geometric average. Because it is based on a geometric average the daily change is closest to the median stock price change. The daily price change of the Value Line Geometric Composite Index is found by multiplying the ratio of each stock's closing price to its previous closing price, and raising that result to the reciprocal of the total number of stocks.
As market participants, we should be taking a scientific approach when putting money to work, always assuming our positions are wrong and need to prove themselves. As part of that process, one piece of evidence we want to look at on a consistent basis is the health of the overall market. One such way to gauge market health is studying . In other words, how many stocks are actually participating in any directional move. That's why we're writing today about an index you might not be aware of but should be familiar with.
M timeframe BULL
W timeframe BULL
D timeframe BULL
2018 NEW ATH
M momentum BULL
2009-2019 UPTREND ACTS AS SUPPORT
VERTICAL GREEN LINES show previous moments in history where M have advanced to the upside into positive territory and have gained momentum BULL
1998,2007 resistance acts as support BULL
FIBONACCI LEVELS act as support BULL
IR CUTS -> RISK ON ASSETS APPRECIATION
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