Trader Feed sugjested last week that oversold indicators wern't being valid and today "usual indicators have been frustrated; it's been a grinding decline rather than a sharp panic."... Damn that guy is good BTW. and using Tick values as important indicators.
I like using a Point and figure chart for tick values. My provider says that is.... not good. not that it's not usefull... because what I'm looking for are spikes in the 800-1200 level that show Reversals... I find my EWT Pluss tick values in those levels give me an ability to hit the tops and bottoms some times.... Note the above chart is for 11am-1130.... But we are seeing the start of some positive values which could indicate some upside momentum building.
the Financials have been so grim all morning.... that could be where the bounce comes from.... 
I have sugjested that the big financials still have some segnificant downside... and the pinaction is rough.
Weird the do feel kin of like they are giving up today...
The friendly trend is down.....
Some optimisum.... the intraday trend in both tick value and Vix is bullish Currently...
But tick values are showing segnificant Negative bias.... but today is not as negative as yesterday or the day before.... So Far.
Monday, July 7, 2008
Tick Values
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