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Using NYSE TICK as a short-term indicator has increased my trading P&L significantly.  NYSE TICK represents the number of stocks on the NYSE ticking up minus the number of stocks ticking down. Utilizing the TICK gives me the confidence to pull the trigger on suspected highs and lows, remain in anxious trades and exit deteriorating trade.    

Ways to use TICK:

1. Identifying a Long Set-Up: A low in the SPY is typically associated with an extreme reading on the TICK (usually below -1,000) or several extreme levels that are followed by higher lows and higher highs.  Most lows in the stock market are usually retested to some extent and if the retest doesn’t create a lower low on the TICK or match the prior TICK low, I will execute a large long position and will not scale out of until I see lower highs and lower lows on the TICK.  Often times, I’ll go long if the TICK forms a long tail on the candle that is supported by a long tail on theSPY.  On a retest, I’ll usually add to trade.The charts on the left in the attachment below display a trade on Thursday where I went long SPY at $89.32 (9:12 AM CST) after seeing three extreme lows on the TICK that were followed by higher TICK lows and higher TICK highs and supported by a high volume retest of the overnight low on /ES (several long tails indicating strong buying interest at the overnight support level), a higher low on AAPL at 9:12 and strong buying interest on the next tick higher.One can say that the same analysis of observing higher lows and higher highs can be applied to the SPY chart but the key is to see what the TICK is doing on pullbacks/reversals the SPY.  If the SPY is rallying and each reversal within the uptrend does not result in a lower TICK, then it is safe to remain in the trade.   Higher lows on the TICK within an uptrend represent weaker selling interest.  If a lower low is seen in the TICK then you should either exit a portion of the trade or be on high alert.    
2. Identifying a Short Set-Up: On Thursday morning, SPY opened higher and traded sideways until it broke its morning support level at 8:56.  While the SPY was trading sideways, the TICK was deteriorating with lower highs and lower lows, which told me not to go long and consider executing a small short trade.   
3. Staying in a Trade or Knowing When Not to Execute a Trade:  A strong market is typically represented by numerous TICK readings above 800 and much fewer TICK readings below 600. On Tuesday (see charts on the right in the below attachment), when the market went straight up until the last hour, there were no TICK readings below -500 and several TICK readings above 1,000, an indication of a strong uptrend that should not be sold short.  At 1:14 and 1:24 the first TICK readings below -500 were recorded (-542 and -646), which was just prior to a 0.80% sell-off in SPY. 

Upper Charts are SPY and lower charts are TICK