ES Journal Archive (2011)

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Quote from Picaso:

These TICK readings (particularly the average) are untenable...

Either a bounce here or this is going to hell in a handbasket...
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In what way, don't follow? You mean it can't continue to meander down without some pullback or a drop?
 
Quote from JoshDance:

1206 is near the low of a balance area. Shown is a 10 day profile, arrows at the high and low of the balance. If one were to counter trend, this would be a good spot for it IMO.

http://screencast.com/t/lFHb2fOgng
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a touch of 1190 would make sense based on your chart probably not today but due for a higher low, nice chart by the way.
 
Quote from JoshDance:

In what way, don't follow? You mean it can't continue to meander down without some pullback or a drop?
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Yes, keep in mind that TICK measures the number of stocks that have just been bid up or down. Extremes attract counter-trend traders because those extremes are supposed to be unbearable in the very short term (they mean every single stock is being sold/bought at the same time). You can have plenty of extreme readings (and in fact in trend days you usually do), but when you don't get a pullback those counter-trend traders have to bail which causes a wash-down/up and THEN a bounce. The swings will be bigger or smaller depending on the volatility.

Edit: the yellow line is the 5' EMA of HLC

Now it can go either way: continue the downtrend or start popping stops at/near the 5' EMA.

Down/up volume 5/1 approx.
 

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Oct 17 (Reuters) - European shares hit fresh lows for the day on Monday, after the German finance minister warned that hopes for a solution to the euro zone debt crisis at a forthcoming summit were not realistic.
 
Quote from Picaso:

Yes, keep in mind that TICK measures the number of stocks that have just been bid up or down. Extremes attract counter-trend traders because those extremes are supposed to be unbearable in the very short term (they mean every single stock is being sold/bought at the same time). You can have plenty of extreme readings (and in fact in trend days you usually do), but when you don't get a pullback those counter-trend traders have to bail which causes a wash-down/up and THEN a bounce. The swings will be bigger or smaller depending on the volatility.

Edit: the yellow line is the 5' EMA of HLC

Now it can go either way: continue the downtrend or start popping stops at/near the 5' EMA.

Down/up volume 5/1 approx.
More...

Thanks P.
 
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