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| Nothing tracks the intraday buying and selling cycle better than a 5-minute NYSE TICK chart. Use it even if you're only trading Nasdaq stocks. The NYSE version works better in pointing to broad market swing action. TICK has a life and order of its own. It develops channel behavior (as seen on this chart) almost daily. Channel breaks represent an increase or decrease in buying or selling pressure. Channel breaks often precede major intraday rallies and selloffs. The extremes of TICK action over time predict swings in broad market sentiment. Readings in excess of + or - 1,000 signal impending burnouts and reversals. |
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