It is a contrary indicator and calls short term overbought and oversold conditions. It is a contrary indicator and calls intermediate term overbought and oversold conditions. It is a contrary indicator and calls longer term overbought and oversold conditions. Daily Ticks - the daily sum total of a daily sampling of the NYSE Tick Index. Since 1993 this number has ranged between a maximum of plus 44511 and a minimum of minus 72135.
Extreme readings indicate overbought and oversold conditions.
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