The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 October 22 close.
Reading
1. Long Term Tick16 (yellow line) bearish
2. Short Term Tick16 (red line) in breakout mode after spending days near Long Term Tick16
3. 3-Day Advance Issues (green line) divergence top against S&P new high
Inference
a. #1 is bearish
b. #2 volatility expansion coming
c. #3 a short term top in the making. If S&P does not pullback significantly while 3-Day Advance Issues going back down to neutral, it will turn into a powerful buy signal.
Review
Inference was correct from last update:
– 3-Day Advance Issues went negative and we got this 3 weeks selloff
– 5% drop with a new high printed right after, "extreme volatility" indeed!
Long Term Outlook
Dow has not make a new high with S&P and Nasdaq on this latest rally. This divergence has happened across the globe. Usually such setup points to the markets having these new highs being wrong.
2 historical scenarios similar to what we have now worth mentioning here. One is year 1929 and the other is year 1998. Both happened on unusual circumstances but having completely opposite outcomes. Check out the charts yourself to see what I mean.
Since last update we got our pullback based on market breadth.
Well, there were actually 2 pullbacks with one very fast melt up in between.
3-day advance issues gave us the extremes ...
The current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Jul 24 Close.
Readings
1. 3-Day Advance Issues printing new low with S&P at the same ...
Both Tick16 ST and 3-Day Advance Issues are pushed down to slightly negative levels.
If they continue to slide a bit more both will enter oversold territory.
Since Tick16 LT is in ...
Since 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, ...
The current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Aug 17 Close.
Readings
1. 3-Day Advance Issues having divergence top against S&P
2. Tick16 ST ...
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 ...
This article explains how to translate the interpretation of NYSE Tick Index between the eSignal version and the IQFeed version. Frame of Reference I use the eSignal version ...
My monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Dec 19 close.
Reading
1. Long Term ...
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. ...
Market Internals 2013-10-22
Monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 October 22 close.
Reading
1. Long Term Tick16 (yellow line) bearish
2. Short Term Tick16 (red line) in breakout mode after spending days near Long Term Tick16
3. 3-Day Advance Issues (green line) divergence top against S&P new high
Inference
a. #1 is bearish
b. #2 volatility expansion coming
c. #3 a short term top in the making. If S&P does not pullback significantly while 3-Day Advance Issues going back down to neutral, it will turn into a powerful buy signal.
Review
Inference was correct from last update:
– 3-Day Advance Issues went negative and we got this 3 weeks selloff
– 5% drop with a new high printed right after, "extreme volatility" indeed!
Long Term Outlook
Dow has not make a new high with S&P and Nasdaq on this latest rally. This divergence has happened across the globe. Usually such setup points to the markets having these new highs being wrong.
2 historical scenarios similar to what we have now worth mentioning here. One is year 1929 and the other is year 1998. Both happened on unusual circumstances but having completely opposite outcomes. Check out the charts yourself to see what I mean.
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