Today was a distribution day from a volume standpoint. We had a higher volume day than yesterday and the market was down today vs. the market closing up yesterday. The market showed a lot of strength early ... but closed down. I would call this price action not very good. However, it keeps hanging around ... seeming ready to climb that "Wall of Worry". I admit the market it sending some mixed signals ... we need to keep focused on the money, the indicators and the price action. The NYSE had a up volume day of 53%. The DJ US Total Market had an inflow of cash of $2.4 billion ... Financials accounted for $1.4 billion of the inflow. For the month the market finished with a net inflow of $16.3 billion. Note all volume and cash flow information was obtained from
The Wall Street Journal.
I wanted to leave you with this 60 minute chart ... the modified tick data indicator in red is pointed down at the end of trading as well as most other indicators. We could see a down day or some weakness on Friday for the Dow based the above indicator.
Today was a distribution day from a volume standpoint. We had a higher volume day than yesterday and the market was down today vs. the market closing up yesterday. The market showed a lot of strength early ... but closed down. I would call this price action not very good. However, it keeps hanging around ... seeming ready to climb that "Wall of Worry". I admit the market it sending some mixed signals ... we need to keep focused on the money, the indicators and the price action. The NYSE had a up volume day of 53%. The DJ US Total Market had an inflow of cash of $2.4 billion ... Financials accounted for $1.4 billion of the inflow. For the month the market finished with a net inflow of $16.3 billion. Note all volume and cash flow information was obtained from The Wall Street Journal.
I wanted to leave you with this 60 minute chart ... the modified tick data indicator in red is pointed down at the end of trading as well as most other indicators. We could see a down day or some weakness on Friday for the Dow based the above indicator.
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