BASED OFF THE VOLD INDEX
The VOLD (also $VOLD) is the difference between the up and down on the NYSE. i.e. NYSE $UVOL minus $DVOL ; the net up .
If you consider that VOLD is the net value between UVOL (up ) and DVOL (down ) then you need to understand these two to understand VOLD .
UVOL or DVOL are a total of the on all stocks that are up or down in price. Up or down is based on the previous session's closing price. The size of the stock's price change is irrelevant.
If the stock is up only $.01, then its is grouped into the UVOL total. If that stock's price then drops by $.02 it will be down $.01 and the day's for that stock will now be grouped with the DVOL total.
Note that when a stock moves from being an up stock to a down stock its will be removed from the UVOL total and added to the DVOL total. Say the stocks is 1 million shares when it moves from up to down. The DVOL will increase by 1 million and the UVOL will decrease by 1 million which means that VOLD will decrease by 2 million.
NYSE Up/Down Ratio is often used as a barometer for stocks trading on all U.S. Exchanges even though it is calculated based on stocks listed on the New York Stock Exchange.
NYSE Up/Down ratio represents the of NYSE stocks that are advancing divided by the of declining stocks.
The of advancing stocks or upside is the sum of the or the number of shares traded associated with stocks that closed higher.
The downside is the total number of shares traded that are associated with stocks that closed lower.
The interpretation of the NYSE Up/Down ratio is rather simple. A value higher than one indicates that there is more associated with up stocks than with down stocks and it is usually interpreted as a signal.
Obviously, a signal occurs when the NYSE Up/Down ratio is lower than one, which tells us that there are more associated with down stocks than with up stocks.
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