
One of the screens that we at Fibozachi continually monitor throughout the Cash session (09:30 - 16:00) is the NYSE TICK.
The hackneyed cliche of "volume precedes price" is certainly true more often than not, however, it is far from foolproof. We prefer to modify this tired cliche by saying that: "buying and selling pressure precedes price."
The snapshots below (from today's session) clearly illustrate how this critical relationship (between the TICK and price action itself) plays out on a daily basis.
http://www.zerohedge.com/article/nyse-t ... ay-selloff