Friday, July 15, 2011

Picking up from the last market update

I just looked at the TICK chart, I encourage you to use the intraday TICK hart as t often is a leading indicator for intraday price action.
 Using the TICK chart is as easy as drawing channels and watching for a change in character, also note the recent TICK surge to +1000, this is bullish. Readings above +1250 are rare as are readings below -1250. The TIK chart takes the NYSE component stocks and deducts decliners from advancers and the number you have left is the TIK reading, so the trend up recently fits well with the recent positive divergences in the market.

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