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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Stephen who wrote (1871)	12/15/1998 12:11:00 PM
From: HairBall	Read Replies (1) of 99985

Stephen: CUMULATIVE TICK The cumulative tick is a time interval snapshot of the direction of all the stocks on an Indice such as the NYSE or NASDQ. It only portends direction of the majority of stocks during that time interval snapshot and does not infer magnitude of price moves nor volume with respect to individual stocks. That is why an Indice can move contrary to the tick. The following is the NYSE definition of Tick. This is for an individual stock, but is used in the computation of the cumulative tick we all view to help reveal real time market dynamics. The tick is the direction in which the price of a stock moved on its last sale. An up-tick means the last trade was at a higher price than the one before it and a down-tick means the last sale price was lower than the one before it. A zero-plus tick means the transaction was at the same price as the one before, but still higher than the nearest preceding different price. It can be found in the glossary at the NYSE web site at: nyse.com Regards, LG

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