The term "closing tick" means the number of stocks on the New York Stock Exchange which closed higher than their previous trade minus the number of stocks whose closing prices were lower than their previous trade. When the closing tick is positive, that is, when more stocks advanced than declined in the last trade, this is referred to as an "uptick" and an indication of positive momentum of the market. When the closing tick is negative, that is, when more stocks declined than advanced in the last trade,, this is referred to as a "downtick" and an indication of downward momentum on the market.