I am not trying to be an expert to give market commentary. Just some observations during my weekend studies. If NYSE TICK was telling me something, here it is.
Ok , hindsight. We had a divergence between NYSE TICK and S&P at 22-Nov-2006 when S&P was making a new high and TICK data did not agree with that. We subsequently had a pull back.And, again, 22-Feb-2007, S&P tried a new high, and this time we had a massive divergence with NYSE TICK again. And the following was just history.
I have read a couple of reports, most described the sell down as “Sudden”, or “Unexpected”. Uhm.. maybe it is really not so “unexpected”. I don’t know.
I am studying some put call ratio stuffs now. Let’s see if I can find some interesting points. Later.