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Tick 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 MOREMonthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Dec 23 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 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 MOREThe 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 ...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 MOREAs 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 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 April 19 close. ...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 July 19 close. ...READ MOREThe current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Oct 18 close. Reading 1. Long Term Tick16 (yellow line) ...READ MORETrading With Tick Index: Basic Tick DivergenceMarket Internals 2013-12-23Market Internal Update 2011-05-10Market Internals 2012-04-08Market Internals 2011-08-25Trading with Tick Index: The Advantages of S&P500Market Internals 2011-08-16Market Internals 2013-04-19Market Internals 2013-07-21Market Internals 2012-10-18
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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