Copyright 2024 Yang Market Research
Positive sign to see NYSE TICK close below -600 on Thursday. The timing is noteworthy given that the low reading coincides with an S&P500 at a high point. When a -500 or lower closing TICK coincides with a one-month high for SPX, the uptrend typically remains intact over the short-term. Over the last 30 occurrences, the S&P was up 83% of the time three sessions later vs. 56% random odds. 1% moves were 16-1…
Copyright reminder: This research note is for subscribers only. Redistribution is prohibited