What Monday’s NYSE TICK Action Tells Us About Tuesday’s Session

Sellers were nowhere in sight Monday as evidenced by the consistently positive NYSE TICK, which never even breached the -700 level. That makes today’s TICK low the highest low since March 5th. When the S&P closes at a three-week high on the same day that the NYSE TICK posts its highest low in three weeks, next-day gains are generally well below average. It doesn’t represent a sell signal, but it is an indication of limited upside potential. Over the past thirty occurrences stretching back nearly five years, the S&P gained more than 0.5% the next day only once…

SPX 15-day High, NYSE TICK Highest Low in 15 Days
04/05/10… S&P500 ??? next day
03/05/10… S&P500 -0.0% next day
02/18/10… S&P500 +0.2% next day
12/24/09… S&P500 +0.1% next day
12/22/09… S&P500 +0.2% next day
11/09/09… S&P500 -0.0% next day
10/19/09… S&P500 -0.6%  next day
09/22/09… S&P500 -1.0% next day
09/16/09… S&P500 -0.3% next day
08/21/09… S&P500 -0.1% next day
07/15/09… S&P500 +0.9% next day (*)
05/18/09… S&P500 -2.2% next day
04/09/09… S&P500 +0.3% next day
08/05/08… S&P500 +0.3% next day
05/15/08… S&P500 +0.2% next day
05/01/08… S&P500 +0.3% next day
05/30/07… S&P500 +0.0% next day
05/02/07… S&P500 +0.4% next day
04/05/07… S&P500 +0.1% next day
01/24/07… S&P500 -1.1% next day
10/16/06… S&P500 -0.4% next day
10/12/06… S&P500 +0.2% next day
10/04/06… S&P500 +0.2% next day
08/16/06… S&P500 +0.2% next day
07/03/06… S&P500 -0.7% next day
06/29/06… S&P500 -0.2% next day
05/05/06… S&P500 -0.1% next day
04/05/06… S&P500 -0.2% next day
02/16/06… S&P500 -0.2% next day
11/25/05… S&P500 -0.9% next day
11/02/05… S&P500 +0.4% next day

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

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