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Since Billy's excellent observations on the tick indices I have been following $TICK $TICKRL $TIKUSC on my Tradestation charts.
It is as been very interesting to see that generally $TICKRL (Russell 2000) has been underperforming $TICK (NYSE) and $TIKUSC (All US) recently.
We shall see what today brings.
Trev
[QUOTE=manucastle;15246]Since Billy's excellent observations on the tick indices I have been following $TICK $TICKRL $TIKUSC on my Tradestation charts.
It is as been very interesting to see that generally $TICKRL (Russell 2000) has been underperforming $TICK (NYSE) and $TIKUSC (All US) recently.
We shall see what today brings.
Trev[/QUOTE]
Sorry, $TICKRL above should read $TIKRL
[QUOTE=manucastle;15247]Sorry, $TICKRL above should read $TIKRL[/QUOTE]
$TIKRL as just pushed through the 10hour ma at the same time as IWM moved through the strong resistance area, strength 7, of 79.60.
Could be an important tell for the rest of the day ?
We shall see.
Trev
[QUOTE=manucastle;15249]$TIKRL as just pushed through the 10hour ma at the same time as IWM moved through the strong resistance area, strength 7, of 79.60.
Could be an important tell for the rest of the day ?
We shall see.
Trev[/QUOTE]
Fascinating stuff !
Both levels repelled on first attempt.
Watch this space :O)
Trev
[QUOTE=manucastle;15250]Fascinating stuff !
Both levels repelled on first attempt.
Watch this space :O)
Trev[/QUOTE]
I'm now watching a freefall of $TIKRL relative to $TICK; ominous as we approach DS1 @ 78.20 from above -- the question now is will it find support...
Does anyone have the low tick for the day, and can compare it historically to previous market bottoms?
[QUOTE=adam ali;15290]Does anyone have the low tick for the day, and can compare it historically to previous market bottoms?[/QUOTE]
For $TICK it looks like it was -1220 at 17:49 yesterday. So far today -1323 at 15:39.
I don't know how this compares historically.
Trev
Ok, thanks. I know from Bob's missives, it's been lower than this...--1500 or so
[QUOTE=adam ali;15290]Does anyone have the low tick for the day, and can compare it historically to previous market bottoms?[/QUOTE]
Here's the weekly 10-year on the NYSE tick:
[ATTACH=CONFIG]9638[/ATTACH]
-1500 is an extreme threshold but we do seem to have capitulation within a few days/weeks after hitting that level.
Here's the daily:
[ATTACH=CONFIG]9639[/ATTACH]
There does not appear to be a good correlation with the -1500 level and a market bottom ....
Thanks, Paul. As you, Billy and Bob have rightly pointed out, this is much more a secondary tool.