Billy, do you make anything of this positive divergence in cumulative tick vs. IWM price action (attached)? Is it typically something you see near a multi-week bottom, and is it a sign of accumulation?
Thanks.
As a side comment, I notice that although the SPX closed today where it did on Monday, most stocks in the SPX are at least a bit better off than on Monday. This is a promising sign, one that you almost always see at a multi-day to multi-week low, and somewhat suggests that Monday may have marked the multi-week bottom we have been waiting for. But, we will just have to wait and see, as these positive divergences can, even with emotions and price where they are, disappear - especially if today's ES lows get materially breached (which would suggest a re-test of the Monday ES lows). The current market environment is very unique and anything can happen.
Reply With Quote