Trading Edges That Last
- You May Also LikeAs indicated yesterday before market close that a pullback is due and that it is likely in the afterhours session, here it is - a selloff in the night at ...READ MORE
While preparing for the next article on converting trading rules between eSignal and DTN IQFeed versions of NYSE Tick Index, I have been doing data comparison on and off among ...READ MOREThe current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Jul 24 Close. Readings 1. 3-Day Advance Issues printing new low with S&P at the same ...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 MOREMonthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Jun 20 close. ...READ MOREAs on last Friday, the 3-day advance issues was short term oversold. Thus it is expected a bounce should happen on Monday and that has already happened. Critical price level of ...READ MOREMonthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 August 16 close. ...READ MOREThe 3-Day Advance Issues and Tick16 both issued long term sell signals last week. Last year, it took a month of gyration of drifting up til February before I got ...READ MOREThe current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Aug 17 Close. Readings 1. 3-Day Advance Issues having divergence top against S&P 2. Tick16 ST ...READ MORETick Divergence is a very useful setup for identifying short term tops and bottoms in Emini intraday. It works very well across many different market environments making it one of ...READ MOREMarket Internals 2011-08-16Trading With Tick Index: A Short Summary ofMarket Internals 2012-07-24Trading with Tick Index: The Advantages of S&P500Market Internals 2013-06-20Market Internal Update 2011-05-10Market Internals 2013-08-16Market Internals 2012-01-29Market Internals 2012-08-17Trading With Tick Index: Basic Tick Divergence
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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