More Ugliness

Along the lines of today's earlier post in which the market seems to be getting disproportionately weaker (from an already very weak tone), I posted this, Broad Market / Credit Update... VERY UGLY about an hour or so ago and now...


We have probably the worst TICK reading I think I've seen.

Other than the downtrend all day in TICK, we just hit an extreme of -1858, close to 2000 which I don't think I've ever seen.

As a reminder, the NYSE TICK is the advancing issues minus the declining issues so we just saw nearly 2000 more stocks declining than advancing, anything above or under +/- 1000 is considered pretty extreme, at 1250 it's very extreme, 1500 is a rare print so this one is just pure ugliness, but it can sometimes lead to a short term capitulation event which is what I'm watching for in AAPL and whether it's worth the risk.