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Monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 September 22 close. ...READ MOREThe current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Sep 18 close. Yes, am posting the chart 1 day late. ...READ MOREDue to the way Tick indices are constructed, they can be called statistics themselves. Unlike technical indicators that are directly derived from price series, Tick indices are indirectly correlated to ...READ MOREMy monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 May 17 close. ...READ MOREIt is 1 am Eastern Time and the overnight market is down at the moment. Japan Nikkei is down more than 1% But as of close of yesterday Aug 17, the Tick16 ...READ MORES&P500 Tick1K Index is a custom market breadth index built with a similar principle like the NYSE Tick Index. Since the S&P500 Tick1K Index contains only the S&P500 components, it ...READ MORESince last update, there were 2 attempts of 1% bounce. Both failed to get any legs. From both cases, the melt down mode were triggered leading to more selloff. 5% drop target ...READ MOREBoth Tick16 ST and 3-Day Advance Issues are pushed down to slightly negative levels. If they continue to slide a bit more both will enter oversold territory. Since Tick16 LT is in ...READ MOREMy monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Dec 19 close. Reading 1. Long Term ...READ MOREAfter I posted the breadth bias warning last week. Someone asked for some samples of the potential outcomes from history. Here they are. First one, the one that simply go ...READ MOREMarket Internals 2013-09-22Market Internals 2012-09-19Trading with Tick Index: Characteristics of Tick IndexMarket Internals 2013-05-19Market Internals 2011-08-18Trading with Tick Index: The Advantages of S&P500Market Internals 2011-06-12Market Internals 2012-04-08Market Internals 2012-12-19Market Internals Update 2011-05-03
As Featured In
Market Internals 2013-11-22
Monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Nov 22 close
Review
Tick16 breakout mode gave us breakout to the upside.
First Tick16 short term overbought against Tick16 long term bearish gave us a brief pullback as I mentioned that in real-time chat. This setup worked out in coordination with the 3-Day Advance Issues divergence setup.
And right after the pullback, it turned into a powerful buy signal as mentioned last time.
Reading
1. Long Term Tick16 (yellow line) bearish
2. Short Term Tick16 (red line) still have room to go back up to at least the long term line and more likely the neutral zone. This is bullish.
3. 3-Day Advance Issues (green line) in 2 way swings
Inference
a. #1 is bearish longer term (4 to 6 weeks)
b. #2 more room to go for the upside
c. #3 distribution in progress
Long Term Outlook
The 1998 scenario played out. That means we are likely getting an early year end rally and until the Tick16 short term reading is overbought, it is not time yet to fight the uptrend on swing basis.
The way 3-day advance issues swinging both ways is great for day trading.
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