Tuesday, June 16, 2009

Sentiment Holding Up Well: A Look at Cumulative TICK

Interestingly, though we've moved back into May's trading range in the S&P e-mini (ES) contract (pink line above), the Cumulative NYSE TICK has stayed well above May levels. Continued strength in Cumulative TICK would suggest to me that we're experiencing a correction in a bull market, not the start of a renewed bear.