Modern Dow Theory - Weekly Confirmation
This indicator compares weekly participation across software, semiconductors, industrials and transports using IGV, SMH, XLI and IYT. Use a standard weekly or shorter chart.
Default readings are 100 × (three-week EMA of price / its 40-week SMA − 1). A sector confirms above its baseline. The optional breakout filter also requires the smoothed price to meet or exceed its preceding 26-week high. The background counts confirmations: green for four, yellow for three, orange for two and red for zero or one.
The digital line averages software and semiconductor readings equally. Separate credit context shows 100 × ((HYG / IEI) / its 20-week SMA − 1) without affecting the sector score. Alerts cover transitions into full confirmation, caution and disagreement between the digital sectors.
Results use the previous completed week on the SPX calendar by default and update when the next anchor week begins. Gaps can carry earlier values forward; the date checks the calendar, not each feed. This is descriptive sector context, not a tested trading strategy.
Default readings are 100 × (three-week EMA of price / its 40-week SMA − 1). A sector confirms above its baseline. The optional breakout filter also requires the smoothed price to meet or exceed its preceding 26-week high. The background counts confirmations: green for four, yellow for three, orange for two and red for zero or one.
The digital line averages software and semiconductor readings equally. Separate credit context shows 100 × ((HYG / IEI) / its 20-week SMA − 1) without affecting the sector score. Alerts cover transitions into full confirmation, caution and disagreement between the digital sectors.
Results use the previous completed week on the SPX calendar by default and update when the next anchor week begins. Gaps can carry earlier values forward; the date checks the calendar, not each feed. This is descriptive sector context, not a tested trading strategy.
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