AAPL continues to hold up well. This monthly level is really holding up nicely.
Quote from Maverick74:
The lower number would indicate more inside days in the market (failed A ups and A downs). Usually inside days lead to outsized moves. So if we had a long stretch of days where the market was coiling with no A ups or A downs, I would think we would be more then likely to get vol expansion going forward. Same theme along the lines of the narrowing pivots and tight opening ranges.
We'll see how this plays out in real time. Again, as a stand alone indicator it might be moderately useful, but when combined with the number line and the macro ACD levels, it could be golden.