The NYSE TICK assesses, at about half dozen 2d intervals, the number of NYSE stocks trading on upticks minus those trading on downticks. By cumulating the one-minute NYSE TICK values, nosotros tin forcefulness out gain a longer-term feel for whether buying (trading on upticks) reckon or selling (trading on downticks) reckon is dominating. The cumulative TICK business (bottom chart; bluish business above) bottomed amongst the ES futures (pink line) and, since then, has moved steadily higher every bit stocks bring consolidated. This buying involvement is showing upwards inward my indicators; on Mon my Demand Index (an index of the number of NYSE, NASDAQ, in addition to ASE stocks closing inward a higher house their volatility envelopes) was 98; Supply (an index of stocks closing below their envelopes) was alone 6. As noted inward my indicator review, the large bulk of issues bring rebounded from their lows; on Monday, for instance, nosotros saw lxxx NYSE stocks brand novel 20-day highs in addition to 52 brand fresh lows. At the marketplace pose bottom, over three-quarters of NYSE issues made fresh 20-day lows. In spite of this, the coin time period indicator for Dow stocks (top chart) continues to stay negative, every bit the four-day moving average (pink line) remains good below the neutral zilch (blue) level. Money time period is real sensitive to the distribution of large trades transacted on upticks vs. downticks. So far, it continues to country us that traders inward size are hitting bids inward Dow stocks to a greater extent than than they are lifting offers. It volition last necessary to conk those large traders on board if the recent marketplace pose firmness is to educate into a full-fledged uptrend.
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