Monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 October 22 close. ...
Since 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 ...
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 ...
The 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 ...
The market internal updates is turning into a monthly update ...
First I was told that I need to post the chart here so that there is a reference to what ...
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 ...
The NYSE Tick Index (aka the $Tick index) and other similar tick indices all demonstrate a similar trending properly. I call it the micro trend channels of the tick indices. ...
Market Internals 2013-12-23
Monthly 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.
Review
Got the rally I was looking for since the last update.
Once we got Short Term Tick16 registered overbought, we had the sharp pullback expected into mid December.
The pullback led to Short Term and Long Term Tick16 stuck together below neutral produced a breakout setup.
We are in the upside breakout run right now.
Reading
1. Long Term Tick16 (yellow line) getting close to neutral zone from below is neutral.
2. Short Term Tick16 (red line) right below neutral zone without a clear direction is also neutral.
3. 3-Day Advance Issues (green line) produced a new high confirmed by new high in S&P is bullish.
Inference
a. #1 produces no useful reading
b. #2 produces no useful reading
c. #3 bullish short term
Long Term Outlook
Rally will likely continue into new year. Strength in 3-Day advance issues will drag Short Term Tick16 higher.
That, however, will make this rally very over extended by time to the upside with risk of a very sharp pullback.
Be carefully with long when Short Term Tick16 is back up to overbought area again.
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