Wednesday, March 17, 2010

Midday Briefing for March 17th: Consistent Buying Pressure

Here we can see that the NYSE TICK simply has not shown any significant negative readings on the day and has consistently stayed above the zero line. Note also from my morning tweets that new 20-day highs continue to greatly outnumber new lows and the vast majority of the stocks in my basket have remained in bullish trending mode. The combination of intraday strength in TICK and the uptrend on the longer timeframe has led us to steadily higher bull market highs in recent sessions.