Monday, June 15, 2009

A Quick Look at Selling Sentiment for a Weak Morning Trade

Note how the NYSE TICK has stayed pretty consistently below the zero line, with the 20-period moving average of TICK continuously below zero. That means that institutions are transacting more baskets of stocks on downticks than upticks, revealing considerable selling sentiment. With the break of the multi-day lows, I'll be looking to see if we can stay beneath that trading range and sustain a trending move to the downside.