Market Internals

Market internals can be a powerful tool for determining future moves, overall trend health and provide a means of directional confidence.

This indicator watches a handful of SPX and US stocks based internals to determine key areas of sentiment changes, the internals monitored are:
  • US Stocks Ticks
  • Call and Put SPX Volume
  • SPX Gamma Dispersion
  • US Stocks Ask and Big Volume
  • US Stocks Advancing and Declining Issues

Each time there's a bullish or bearish sentiment change it will be market with green/red flag and a single letter that identifies what market internal has changed.

SPX gamma dispersion events aren't to be considered directional from historical observations made but can be a sign of liquidity adjustments and when paired with any of the other aforementioned internals sentiment changes can be used as a powerful signal.

If it's observed that market internals are changing erratically then it's a clear indication of market chop and best to wait for cleaner trends.

Future updates may include non-SPX based internals analysis, change in display, alerts/alertconditions and more. Feel free to comment with any desired changes and we can discuss!

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