junk - TICK is the number of stocks on the NYSE increasing in
price vs those decreasing in price. It runs on a scale from
-1200 to +1200. One very basic reading of it -- on a 5-min
chart -- is that when it crosses +1000 or -1000 it almost always
signals a short-term turn coming in the market.
Posted by junkmaylbox on 29th of Dec 2008 at 04:25 pm
Thanks for the information. I could not find $tick on
StrategyDesk, so I had to ask. I do find it on stockcharts. I'll
have to look up those indexes specifically, they are useful to
know.
SP inverse HS
Posted by keithbob on 29th of Dec 2008 at 12:10 pm
SP appears to be forming an inverse HS on todays 5min chart
not a time to be
Posted by Michael on 29th of Dec 2008 at 12:29 pm
not a time to be going long -- internals are awful
can you please elaborate on
Posted by amkpet on 29th of Dec 2008 at 12:43 pm
can you please elaborate on what internals you are looking at?
just trying to learn
thank you
Internals
Posted by Michael on 29th of Dec 2008 at 01:15 pm
amkpet
I'm very much still learning myself, but internals I'm following mainly are:
1- streaming list of DOW 30 stocks so you can see instantly how many are green or red
2- $TICK
3- put call ratio ($WPCVA) in tradestation
4 - advance decline numbers, advance decline volume, up volume, down volume
One of the really nice things about tradestation is having all this and some other stuff on one screen, always updated.
Market internals
Posted by junkmaylbox on 29th of Dec 2008 at 01:52 pm
What is $tick?
junk - TICK is the
Posted by Michael on 29th of Dec 2008 at 03:25 pm
junk - TICK is the number of stocks on the NYSE increasing in price vs those decreasing in price. It runs on a scale from -1200 to +1200. One very basic reading of it -- on a 5-min chart -- is that when it crosses +1000 or -1000 it almost always signals a short-term turn coming in the market.
$tick
Posted by junkmaylbox on 29th of Dec 2008 at 04:25 pm
Thanks for the information. I could not find $tick on StrategyDesk, so I had to ask. I do find it on stockcharts. I'll have to look up those indexes specifically, they are useful to know.
amkpet -- the best discussion
Posted by Michael on 29th of Dec 2008 at 01:42 pm
amkpet -- the best discussion of using market internals I've ever read is in John Carter's book Mastering the Trade.
thank you
Posted by amkpet on 29th of Dec 2008 at 01:51 pm
thank you
I couldn't agree more! The
Posted by rgoodwin on 29th of Dec 2008 at 01:48 pm
I couldn't agree more! The book is excellent.
Yes, very good book I
Posted by matt on 29th of Dec 2008 at 01:51 pm
Yes, very good book I agree too