PLS chart, page-8595

Intra-day NMT tends to point to direction of movement, not magnitude. So if you watch it on the 1 minute chart as a line - not a candle - it will tend to hold the direction of movement both before PLS and also through a PLS fluctuation, so if PLS will end up but has drifted down during the day NMT will first point down then tend to hover flat or point up most of the period during witch PLS is doing some thing different, then kick up at which point PLS stops playing silly buggers and starts rising dramatically. There is no correlation in magnitude of the movement, just direction. Also, bu my wave count NMT and PLS are on exactly the same wave and due for the same rise. NMT has been ready for a few days having got to its target quite quickly and essentially been waiting for PLS to catch up completing its retrace, which I think it has now done. You can see that in your chart - NMT completed the retrace fast then has essentially just sat at the target price waiting, meanwhile its minute response each day has been to go up a cent or two and down a cent or two when PLS is about to move maybe 10 -20c.

I agree Feyr looks a close correlation but I am guessing it is not trading at the same time as PLS, so not so helpful for intraday movements, and remember I am using NMT only as a 1 minute direction indicator. I virtually never use it in candle mode as that hides the direction indication, and don't use it to set pricing or movement scale - so I never put it on the same chart. It is purely a "sentiment" meter.