On the stream you may or may not have heard people talking about the NYSE tick readings. For those who do not understand what this indicator which is charted linearly actually tells you, it is used by traders to determine where business is being done whether on the bid or on the ask across NYSE stocks.

As you can see from the chart to the left the buy programs started almost exactly as we made fresh lows on the day of 1257.75. From that point we melted higher all day all the way up to 1270 on mouse farts and buy programs. Clearly the business for the majority for the day today coming
off the heels of the jobs number was on the bids with relative higher volume in relation to previous trading days. Spy volume average was only off by 5 million shares today, compare off nearly 30 million yesterday. If you look at the volume bars of the chat above you can see the volume was on red candles in the AM.

Now take a look at the NYSE 1 min TICK chart to the left, notice the time at which the TICK started making lower lows and higher highs in a trending fashion. Chicago time the buy programs came in at 12pm, NYC 1 pm.

Today is a very good example of how the TICK can be used to understand where programs are doing their business, and clearly this afternoon they were on the offers.

Have a good weekend. Lets hope for some volatility next week.