The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Feb 17 close.
Reading
1. Long Term Tick16 (yellow line) below neutral zone but not dropping
2. Short Term Tick16 (red line) pulled back to neutral zone
3. 3 Days Advance Issues (green line) diverging from new high printed by S&P itself
Inference
a. #1 in bearish consolidation mode. That means 30-min timeframe intraday has no continuation strength. Both overbought and oversold on 30-min and up would result in reversal easily.
b. #2 points to breakout mode as the index has compressed at neutral zone for days.
c. #3 points to a pullback in breadth (advance issues) back down to neutral zone is necessary. It can correct itself without dragging the price of S&P lower. If so it will be very bullish for S&P.
Last update predicted it was still in favour of the bulls and every push lowered were good long opportunities. That was indeed what happened. This may change if #1 starts to slide lower away from the neutral zone into more bearish level.
My monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Jan 18 close.
Reading
1. Long Term Tick16 (yellow ...
Review of Forecast for Dec 7, 2015
Bearish expectation worked out. The expansion to 2.5% or more downside also worked out. The breadth analog model did an excellent job for the ...
I mentioned that the most reliable source for tracking index component changes is the public record of press releases. Here is an example how to search for these records ...
Majority of option traders who understand options tend to focus on the mathematics of VIX while the chart traders who trade S&P 500 Index futures tend to focus on the ...
The expected bounce happened. And based on 3-day advance issues and Tick16 Short Term the rally will be over quickly if not already.
The divergence top on the 3-day advance issues ...
OddBall is created by Mark Brown, and was featured in Active Trader magazine. It is a trading system designed for trading the S&P index future (or the emini counterpart). The ...
Review of Forecast for Apr 25, 2016
2-way trading all week as expected. Ended up with short side winning as expected. Not enough time to develop further drop after 1.5% swing ...
Trend buy day are the days where the stock market indices just keep going higher. Day traders are often trapped on the wrong side of the market on such days ...
Tick16 short-term and long-term both are pushed back down at the neutral zone again. If confirmed by 3-day Advance Issues within this week, we have a sell signal.
S&P officially cut the rating of United States from AAA to AA+ with negative outlook.
You can read reports on that from the following sites,
ZeroHedge
Reuters
As a trader I do not really ...
Market Internals 2013-02-17
My monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Feb 17 close.
Reading
1. Long Term Tick16 (yellow line) below neutral zone but not dropping
2. Short Term Tick16 (red line) pulled back to neutral zone
3. 3 Days Advance Issues (green line) diverging from new high printed by S&P itself
Inference
a. #1 in bearish consolidation mode. That means 30-min timeframe intraday has no continuation strength. Both overbought and oversold on 30-min and up would result in reversal easily.
b. #2 points to breakout mode as the index has compressed at neutral zone for days.
c. #3 points to a pullback in breadth (advance issues) back down to neutral zone is necessary. It can correct itself without dragging the price of S&P lower. If so it will be very bullish for S&P.
Last update predicted it was still in favour of the bulls and every push lowered were good long opportunities. That was indeed what happened. This may change if #1 starts to slide lower away from the neutral zone into more bearish level.
Share