Thursday, May 14, 2009
A Glance at Buying and Selling Pressure on the Morning
Here's a quick look at a 3-minute chart of NYSE TICK on the day so far. Note the higher lows and the absence of the readings < -800 that we saw yesterday. That, combined with the bullish bias of the historical look from the earlier post and the steadily positive Market Delta numbers noted in the Twitter comments, has been helpful in not assuming that the market would fall out of bed this morning. When intraday action backs your analysis from premarket preparation, that's when you can make the high confidence trades.