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NYSE Cumulative TICK closed below the -50,000 level for a third consecutive session Wednesday. That’s been a short-term negative indication over the last decade. Three sessions later, the S&P’s average loss was 3.0% compared to an average gain of 0.8%. Worth noting that prior to 2012, those averages were pretty much reversed, so this is s recent phenomenon only. Also, sample size is small. SPX McClellan Oscillator closed at -37 on Wednesday, nearing the -50 oversold level.

NYSE Cumulative TICK <-50,000 Three Consecutive Days
01/19/22… SPX ??? three sessions later
03/09/20… SPX -9.7% three sessions later
02/25/20… SPX -5.6% three sessions later
12/17/18… SPX -3.1% three sessions later
10/12/18… SPX +1.5% three sessions later
10/05/18… SPX -3.5% three sessions later
03/09/17… SPX +0.0% three sessions later
10/28/16… SPX -1.3% three sessions later
06/14/16… SPX -0.2% three sessions later
02/09/16… SPX +0.7% three sessions later
01/20/16… SPX +1.0% three sessions later
01/13/16… SPX -0.5% three sessions later
06/29/15… SPX +0.9% three sessions later
12/04/13… SPX +0.9% three sessions later
08/16/13… SPX -0.8% three sessions later
05/15/12… SPX -2.7% three sessions later

08/22/11… SPX +3.2% three sessions later
05/18/10… SPX -3.0% three sessions later
03/09/09… SPX +11.0% three sessions later
02/19/09… SPX -0.7% three sessions later
11/19/08… SPX +5.6% three sessions later
11/12/08… SPX -0.2% three sessions later
06/10/08… SPX +0.1% three sessions later
08/16/07… SPX +2.5% three sessions later
07/26/07… SPX -1.9% three sessions later

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