Wednesday, August 28, 2013

TICK: Watching for an Intraday Reversal

I think just by the strength exhibited today in the 3C charts not to mention the 5 min VIX futures, something bullish is coming, I also still think a larger base is probably the most likely outcome.

You can watch the NYSE 1 min TICK chart to get a feel for a market intraday reversal, I think we are getting close to one.

 NYSE TICK, you can see it slipping in the channel

My custom TICK Indicator, you can see it going from negative to positive, I suspect it will start moving negative soon.

I don't see it as worthwhile to put on any trades specific to this move (assuming that's what we are getting, but I have felt like that almost all day), there might be some maintenance/management  you might consider, like I wanted to take some off the table in XOM.

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