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The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Nov 19 close. Reading 1. Long Term Tick16 ...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 MOREThe mega swings in the breadth have successfully forewarned and confirmed the swings of S&P over the past 5 swings. The challenge at this point is that 3-Day Advance Issues ...READ MORESince last update we got the major selloff I've been looking for. Now, 3-day advance issues is back down at oversold level, while Tick16 Short Term is forming potential higher low. Normally, ...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 Jan 18 close. Reading 1. Long Term Tick16 (yellow ...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 MORESince last update, S&P has experienced its most volatile month ever. However the custom market breadth indices never improved and keep getting worse. As of last Thursday the target zone ...READ MOREHaven't got time to write an update til now. The sell off I was looking for til 3-day advance struck bottom was done in the beginning of last week. Not quite ...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 MOREWhile 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 MOREMarket Internals 2012-11-19Trading with Tick Index: Characteristics of Tick IndexMarket Internals 2011-12-15Market Internals 2011-10-03Market Internals 2013-01-18Market Internals 2012-09-19Market Internals 2011-09-25Market Internals 2011-11-07Trading with Tick Index: The Advantages of S&P500Trading With Tick Index: A Short Summary of
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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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