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Buzz & Banter


I've been asked several times if the TICK indicators I mentioned yesterday are still modestly oversold. Not at all. I've recorded 29 straight positive readings in the NYSE TICK (I take them every ½ hour) so the indicator I posted yesterday is back up to +11,500. On the Nasdaq, the indicator is up to +1,500. Neither one is yet overbought, but we're heading there quickly. I'm not enamored with stepping in front of a rise in a low-volume market, particularly with the consistent positive bias the Friday before Labor Day has typically shown. So even if we become overbought today, I likely wouldn't yet be aggressive on the short side.
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