Friday, January 15, 2016

TICK Tick 1-Minute Chart Uber Negative -1400 Tick

The TICK machine registers an uber low -1400 print. Multiple babies and multiple bath waters are being thrown out. Indiscriminate selling is taking place in markets. Stocks are in a mini-crash. The Dow was down 500 points a short time ago and the SPX down 60 points. The 1872-1874 level on the SPX was the key strong support, once it failed, you knew the August low at 1867 was toast, and it was, LOD is 1858. The next very strong support level is 1848-1849. Negativity is off the charts. Traders are jumping out of windows; hopefully they are on the first floor. The blood is flowing in the streets. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added at 1:22 PM EST:  The SPX comes up to back kiss the key 1872 from the underside, thus, the SPX will either bounce or die from here. Who will win? This is a big test. Bulls must move price back above 1872, otherwise, the move to the strong 1848-1849 is likely on tap later today or next week. The uber negativity with the -1400 Tick hints that price should recover going forward but the markets are very news-driven which serves as a wild card as well as the collapse in oil prices. The SPX is at 1872.41 deciding whether to jump off the cliff or to run back from the edge and gather itself.

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