More on the Triangles, TICK

This is a purposeful or Wall Street created triangle, it's not a random pattern, it's not a consolidation pattern, it was put there and maintained there on purpose.

Look at the TICK Chart. As a reminder, the NYSE TICK chart is advancing issues per tick minus declining issues, usually it trends with the market and typically sees some extremes above + or - 1250.

You can see the triangle clearly in the TICK data, any time the market has seen some momentum on the upside , it has been shut down, the same is true of a recent move on the downside. Note there are very few extreme readings.

Now this could all be part of an options expiration pin, but in the past, those tended to be sloppy, undefined and generally lateral, I don't ever recall seeing a specific price pattern that traders would respond to.