The indicator is applied to the daily tick.
I've never really applied this to TICK, therefore I'm not sure if it's reliable (but looks to be if the past is any indication). Unfortunately I don't have the cool Bloomberg terminal like Durden...might have to write a Thurgyberg look-alike and bring it to CNBC.
Anyway, found this interesting nonetheless. Maybe the kidlets will be back from the arcade tomorrow and start gobbling up all the momo's. The only thing I can deduce from this is that someone is taking in all the supply, or something. Prices are rising in the face of that declining green/purple line and in the past that has been with declining prices. None of the market makes sense right now. Could be a false positive, a Goldman Prophecy or a gamed tick.
[addendum 2:30) ] if it's not obvious from the chart, when that line bottoms out it led to a higher stock market if nothing more than on a short-term basis.
