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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Robert Graham who wrote (14670)8/18/1998 1:30:00 PM
From: Lee Lichterman III  Read Replies (1) of 42787
 
I use the TICK primarily in the same way however I have been noticing during my two weeks off that it also seems to generate the same type of chart patterns you refered to in your next post as to an indication of direction. In other words if it makes a flag or wedge after an up trend or down trend, the market tends to continue this trend however when the TICK changes into a down trend from an uptrend like I am starting to notice now, it can be an early tip off of a future market reversal.

I posted that I had observed a multitude of stocks forming a base and that there was a change in the TICK pattern on the TSO or BK thread last week even though the market itself index wise was not showing this rally coming yet. It was either luck or indeed a leading indicator that this rally was about to happen. Unfortunately, the TICK and individual issues I am watching may be hinting that this rally is already running out of steam. Hopefully this is just a consolidation/basing period for the next push up but we will have to see how it pans out over the next few hours.

<edit>

I am noticing the sell program kickin in now with a negative 300 TICK. This could cause a multitude of abandoned baby formations today which would also indicate a reversal signal. Note most stocks gapped up this morning and have stayed in a narrow range. If this sell program makes them close down or flat, it would be a bearish indicator.
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