SPX Volume

Discussion in 'Options' started by The Rookie, Mar 31, 2019.

  1. Where would you find a chart for "up volume" and "down volume" for SPX? Basically looking for a live day to day chart as well 5 day, weekly, monthly 3, 6 months, etc. Thanks.
     
  2. tommcginnis

    tommcginnis

    SPX is an index -- volume is not going to do a lot for you.

    If you want ES volume, and wish to ask volume questions of it, your best place is to decide on a definition of "up volume" and "down volume" -- there are volume TA tools that use those terms as inputs, as well as price+volume tools like the MFI that use similar-but-not-exact concepts. Looking at those, deciding what comes closest to your intended concept, and then tracking the calculations in your own spreadsheet, are the best you're going to do.
     
    Philo Judeaus likes this.
  3. yosuji198

    yosuji198

    Hey all - as a follow up I want to use the Money Flow Index (MFI) with SPX. I can't right because there's no volume on the index? Wouldn't the volume on the index just be the sum of all the volumes of its constituents? That doesn't sound hard why isn't it provided?

    I'm charting SPX on Tradingview. Essentially then what indicators can I use on SPX to call trends and reversals :banghead:
     
  4. yosuji198

    yosuji198

  5. tommcginnis

    tommcginnis

    • As an index, the SPX ("^GSPC" in Yahoo land) has not volume, and cannot have an MFI computed. :(
    • Volume for an index depends on the construction of the index -- the S&P is capitalization-weighted, so summed-constituent volume is not meaningful. :(
     
  6. yosuji198

    yosuji198

    Thanks tommcginnis. But a sum of volume weighted by market cap also isn't hard to do.

    And volume on SPY and all those other ETFs are also useless because they're just open-ended funds. :banghead:

    So does that mean I have to give up on trading SPX? :(
     
  7. tommcginnis

    tommcginnis

    Ehhhhh, there are a LOT of things "not hard to do" in financial markets, that still go on, and on, and on, and...... :rolleyes:

    Mehhhhhhh, you might want to think about that 'volume' and 'SPY and all those other ETFs' thing again. :confused:;):D
     
  8. Thanks for the replies. I was looking for volume to be one of the tools at my disposal, but can see it's not a good choice. Thanks
     
  9. Baozi

    Baozi

    volume can be used as a data point, but in its raw form is too noisy to be useful.