my recent post, I suggested that the human relationship betwixt the NYSE TICK as well as the Market Delta for a wide index provides a multidimensional visit of short-term sentiment. If you lot click on the nautical chart above, you'll run across a prissy setup from this morning's trade. The ES book at bid vs. offering is inside each of the bars inwards the Market Delta chart. The five-minute high as well as depression values for NYSE TICK are inwards dark beneath each bar.
Note how the NYSE TICK genuinely started drying upwards on the breakout move, ahead of cost as well as Market Delta. That was an early on clue that a large unwrap of stocks weren't participating inwards the upmove. (Energy as well as materials stocks, amidst others, failed to confirm the highs). Once nosotros made the novel cost highs at the meridian of the day's range, however, greenback how book at offering vs. bid as well as NYSE TICK dried up. That provided enough of advance alert for the retracement dorsum into the recent range.
These transitional patterns play themselves out on multiple fourth dimension frames as well as tin hand notice last constitute but nearly every trading day.
RELATED POSTS:
Identifying Transitional Structures
My Guiding Principles of Short-Term Trading
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