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Nikkei 225 Advance-Decline Ratio
Advance-decline ratios (6, 10, 15 and 25 days) for the Tokyo Stock Exchange Prime Market, drawn over the Nikkei 225. They are calculated from the advancing and declining issue counts published by JPX. A reading above 120% is generally read as overbought and below 70% as oversold. Click a legend item to show or hide that line.
Advancing and Declining Issues
The daily counts of advancing and declining issues on the TSE Prime Market, which the ratios are built from. This chart follows the period buttons above.
Advance-Decline Ratio Data
Ratios for the most recent 90 trading days.
| Date | 6-day | 10-day | 15-day | 25-day | Nikkei 225 |
|---|
About the Advance-Decline Ratio
The advance-decline ratio divides the total number of advancing issues over a period by the total number of declining issues. The formula is as follows.
A-D Ratio (N days) = total advancing issues over the last N trading days ÷ total declining issues over the last N trading days × 100
100% is neutral. Higher readings point to an overbought market and lower readings to an oversold one. Shorter periods react more sharply to price swings, while longer ones are smoother. The 25-day ratio is the most widely used; the 6, 10 and 15-day ratios are for catching short-term extremes earlier.
When the Nikkei 225 is making new highs but the ratio fails to follow (it cannot clear its previous peak), the index may be propped up by a handful of high-priced stocks. That divergence is watched as a possible sign of a top.