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.
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. ...
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 ...
As 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 ...
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 ...
The 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 ...
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 ...
After I posted the breadth bias warning last week. Someone asked for some samples of the potential outcomes from history. Here they are. First one, the one that simply go ...
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 2013-11-22
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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