I did not trade today. Took some family time to to go see the new Harry Potter and the Order of the Phoenix movie at the local IMAX theater. I have liked other IMAX movies, but I left thinking I would have liked seeing this movie from a "normal" theater instead. I still would recommend the movie either way.
Back to the Charts - I found it interesting when I looked at the charts after the fact. Today would have been another "Out of Synch" day. To me, this means my CAT Indicator keeps telling me one thing (today to take short trades), but price is trending better in the opposite direction (today price was up more than down.
Since the July 4th Holiday, it seems to me that the NYSE Tick has been notably weaker. In the chart above, the Tick rarely touches the Green line. In a sustained up trend, the Tick will normally touch and produce extremes above this 1000 level frequently.
I can not wait until tomorrow to see what happens. Will we have a Gap down, will the NYSE Tick still remain weak, will it be a down day, or will price continue higher to the top of the channel we are currently trading in?
Time will tell.
Trade Wise, Trade Well
John
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