TICK Data

Is going from bad to worse. The NYSE TICK data is all advancing issues per bar (1 min) less all declining issues, thus above zero there are more advancing NYSE issues, below zero there are more declining issues. It's the extremes and the way the data is developing that is eye catching.

 The opening TICK was as high as nearly +1800, an extremly high reading, but that gave way quickly and the NYSE has struggled to poke above the VERY mediocre +500 which is nearly neutral, while as the day has advanced, data is in the -1000 area and hitting extremes of -1500, there's an obvious correlation to the moment options went dark, but that doesn't explain the rest of the day both before and after.

My custom TICK indicator shows the trend fairly well.

The bars at the bottom show the data really going south this afternoon.

We do have some 1 min positive divergences in the market averages, the problem though is timeframes beyond 1 min are not following in most instances, so perhaps there's an attempt at an afternoon/closing ramp, but internals thus far don't make any attempted ramp very believable.

*If this keeps up, not only will I continue to hold short positions/puts entered Friday, but may finally feel comfortable in having a handle to the point where I feel there's little risk in adding new positions or adding to current positions.

Don't forget, the F_O_M_C meeting starts tomorrow and culminates Wednesday with a 2 p.m. policy announcement which many have felt would include a September taper statement, at least until sentiment changed last night with Summers withdrawing his name from consideration.