market average indicator

Discussion in 'Stocks' started by alphav6O3q, Nov 24, 2011.

  1. Hii..

    I use the thinkorswim platform. I havent traded yet, and am studying to understand CANSLIM before trading. Understanding the market average is a big part of this system.

    On the thinkorswim platform, there is no volume data on SPX. So I was thinking of using the SPY instead, since the price of the SPY ETF seems to correlate well with the S&P 500.

    My question is whether the SPY volume is directly proportional to the total number of shares on the S&P500 traded that day?

  2. if not, is there somewhere else where I can get the price and volume of the various well known market averages such as S&P, DJI, COMP etc. I checked morningstar, google finance and others but they dont seem to have such data.