The TICK is mellowing out big time as the gaps get filled, it's starting to hang around the zero mark, down from +1250. There are no negative 1 min divergences in the averages yet, but they also aren't leading to the upside. AAPL is the weakest of the 1 min charts that mean something, the NASDAQ futures are a close second, ES (S&P futures) are not negative yet, but losing momentum in 3C.
If you were looking for an area to get in to a position that you might have missed yesterday, this is an area to consider, even though we haven't turned negative intraday yet. I was considering VXX which I didn't have an opportunity to look at in time yesterday, but I'll wait a bit longer, keep an eye on the TICK and any new highs in price intraday with TICK failing to match them.
Oh, I'll be closing XIV obviously, this is a good time to do it.
5 years ago
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