Finally, I have observed in the last few days a divergence, which INMTO, is extremely critical. The NYSE TRIN kept well above 1.20, and sometimes run even above 2.00, but strangely, during the same time we were getting tic readings that were not only positive, but sometimes very positive in the 500 plus area. These two numbers do not jive, they indicate that the selling in the falling stocks was much heavier than in the advancing stocks, or in other words, the volume on uptics (and there were more uptics than down tics) was completely overshadowed by heavy selling on downtics (or much greater volume). I like high TRIN numbers, when associated with very negative tic, these forecast a coming reversal in a decline, but high trin in face of very positive tic, tells me: "Price follows volume", and the volume was down.
Zeev |
