The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Jun 20 close.
Reading
1. Long Term Tick16 (yellow line) well above neutral zone heading down
2. Short Term Tick16 (red line) moving down towards oversold area
3. 3-Day Advance Issues (green line) sold off down to new low together with S&P
Inference
a. #1 is bullish pointing to selloff should be bought
b. #2 points to a short term bottom is coming soon
c. #3 4th lower low matching the S&P points to a complex low in the making
Last update I was looking for a top that will lead to significant correction. We have that in progress now.
This corrective move in ES has not produced a bearish trend in 3-Day Advance Issues or TIck16 which implies another important swing low is in the making.
To time the swing low focus on Tick Index based divergence over a 2 to 3 day period to identify the potential bottom. Another sign to look for is that 3-Day Advance Issues would stay at the bottom for several days creating a powerful setup to squeeze S&P higher.
Review of Forecast for Apr 27, 2015
The significant selling warning nailed the scenario completely. The breadth analog model did an excellent job again.
Forecast Starting May 4, 2015
Summary of the S&P500 ...
We are getting close to release the custom market breadth data in the Historical Data Bank. The delay is more than what we bargain for as hard disk problems ...
Review of Forecast for Jun 15, 2015
The expectation of volatile price actions was correct with 1% swing down and then 2% straight up. The swing top potential is there given ...
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. ...
Review of Forecast for Jun 8, 2015
The expectation of volatile price actions was correct with 1% swing down and then 2% straight up. The risk of 5% downside move did ...
Review of Forecast for Nov 21, 2016
Thanksgiving week led to updrift all week. Volatility spike did not materialized. Slingshot move not enough time to unfold due to shorten trading hours. ...
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 ...
Review of Forecast for Sep 14, 2015
Another week with extreme swings of 3% up and then 3% down thanks to FOMC interest rate decision. The normal expectation of 1% upside ...
Review of Forecast for Aug 29, 2016
No 1% move in either direction led to range bounded actions, so 2% breakout play not triggered. Forecast of V-reversal play with downside action ...
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 May 17 close. ...
Market Internals 2013-06-20
Monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Jun 20 close.
Reading
1. Long Term Tick16 (yellow line) well above neutral zone heading down
2. Short Term Tick16 (red line) moving down towards oversold area
3. 3-Day Advance Issues (green line) sold off down to new low together with S&P
Inference
a. #1 is bullish pointing to selloff should be bought
b. #2 points to a short term bottom is coming soon
c. #3 4th lower low matching the S&P points to a complex low in the making
Last update I was looking for a top that will lead to significant correction. We have that in progress now.
This corrective move in ES has not produced a bearish trend in 3-Day Advance Issues or TIck16 which implies another important swing low is in the making.
To time the swing low focus on Tick Index based divergence over a 2 to 3 day period to identify the potential bottom. Another sign to look for is that 3-Day Advance Issues would stay at the bottom for several days creating a powerful setup to squeeze S&P higher.
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