Cumulative TICK Trending Lower, VIX:VXV Ratio Near Longer-term Sell Territory

Stock indices settled mixed Friday in very quiet trade. TICKscore settled at
+1, cumulative TICK -4,300. Both gauges reflected a near-total absence of
institutional participation.

The Nasdaq100 settled 1957.56, just high enough to trigger the short-term buy
setup discussed in Thursday's column. Recall that this suggests good odds
we'll see an NDX settlement above Friday's close within the next few sessions.

Looking beyond the likelihood of a higher Nasdaq close, some intermediate-term
indicators are suggesting the market's upside potential is likely to be
limited. Note that the 20-day moving average of the Cumulative TICK is
trending lower, and that the VIX:VXV Ratio is close to triggering a longer-
term sell.

Categories : Archived EOD Commentary, End-of-Day Commentary

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