Tim Ord explains his rules for trading the Tick Index and how to apply them to the two moves which are the subject of this article; The Continuation Move and market Turns. "The first rule is for a continuation move: 1 The New York tick index records high intraday tick readings (in excess of 600 up- or downticks) and the market closes near the high or low for the day. Further price movement can be inferred from these conditions. The next three rules are to identify upcoming turning points in the market and confirm trend reversals: 2 When the difference between opening and closing prices become narrow and intraday tick readings exceed 600, a turn in the market is likely. 3 Closing tick index readings that exceed 600 is a sign that a market turn is fast approaching. 4 At breakaways from tops or bottoms, the tick index will usually record high intraday tick readings exceeding 500 ... download the eBook to read more
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