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ES Journal - 2012
- Thread starter Buy1Sell2
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There's a +1200 tick reading
Quote from Lespaulr0cker:
There's a +1200 tick reading
Indeed. Are you just noting it, or do you feel there is a setup based off of that? I'm not attacking, I'm genuinely asking. The reason I ask is because we had a +1200 reading on the TICK this morning at 7:40 PST as well. Do you see something different between the two?
Quote from trickshot:
Looks like it was rejected.
so far:
http://screencast.com/t/RLpXr87g
Just a wild guess, but I predict 2 hours of nothing here.
Quote from bigsnack:
Indeed. Are you just noting it, or do you feel there is a setup based off of that? I'm not attacking, I'm genuinely asking. The reason I ask is because we had a +1200 reading on the TICK this morning at 7:40 PST as well. Do you see something different between the two?
I'm new to trading so you may want to take anything I say keeping that in mind. With that said, I believe that extreme tick readings (1200 or higher) are a sign of large positions being taken by the bigs and says alot about future direction.
Quote from Lespaulr0cker:
I'm new to trading so you may want to take anything I say keeping that in mind. With that said, I believe that extreme tick readings (1200 or higher) are a sign of large positions being taken by the bigs and says alot about future direction.
B's point was that around 10:40 this morning there were several 1100+ readings, which was followed by a 6 tick pullback, and now 7 handles higher.
Since SPX long term resistance just hit, perhaps this is a time when a tick fade may be more logical. But all TICK says is, "this many stocks in the NYSE are ticking UP at the moment" -- it's up to us individually to do something with that information if we choose.
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