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.
As 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 ...
Haven'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 ...
Monthly 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. ...
Monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 September 22 close. ...
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 March 19 close. ...
Since 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 ...
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. ...
Did not post an update on the breadth readings for quite some time. My bad.
The main theme so far over past 2 weeks is that since Tick16 long term has ...
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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