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MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets by David G. Hawkins, Andrew Coles

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CHAPTER 6

Applying MIDAS to Market Averages, ETFs, and Very Long-Term Timeframes

David G. Hawkins

In this chapter, I address applying the MIDAS techniques to market averages and exchange-traded funds, instead of just individual securities. The concern immediately encountered is that, for many of the popular averages, the index publisher does not provide volume data with the average. A few do, such as for the Dow Jones Industrial Average, the New York Stock Exchange Index, and the NASDAQ Composite Index, but most don’t.

So, what does it mean to try to use the MIDAS mechanisms, which are intimately tied to volume data, on something for which there are no volume data? To illustrate the approach I use, let's first, before going over to market averages, ...

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