We had a confirmation of today's sell off with the High Yield Debt.
Dollar was up pretty good ... however based on today's volume with the NYSE ... I'm betting we will bounce back a little in a day or two. Gold and Silver tanked.
Money flow is pointing down. We had about $3.2 billion in outflow today for the DJ US Total Market and it was a 93.5% volume down day for the NYSE. You know what that means ... we may have a bounce here in a day or two ... this is just too much negative sentiment for the market for a day. Volume is still light for the Dow and the NYSE ... the NYSE only posted volume of just over 1.1 billion. We did not have a distribution day on the Dow (lower prices on higher volume compared to the previous day of trading). I would hold off shorting the market and look to enter QID at around $32.50 as share if it touches (trade this only if you believe the market is going lower during the summer). I would hold stops at $30.99 if you trade this ETF.
We had a confirmation of today's sell off with the High Yield Debt.
Dollar was up pretty good ... however based on today's volume with the NYSE ... I'm betting we will bounce back a little in a day or two. Gold and Silver tanked.
Money flow is pointing down. We had about $3.2 billion in outflow today for the DJ US Total Market and it was a 93.5% volume down day for the NYSE. You know what that means ... we may have a bounce here in a day or two ... this is just too much negative sentiment for the market for a day. Volume is still light for the Dow and the NYSE ... the NYSE only posted volume of just over 1.1 billion. We did not have a distribution day on the Dow (lower prices on higher volume compared to the previous day of trading). I would hold off shorting the market and look to enter QID at around $32.50 as share if it touches (trade this only if you believe the market is going lower during the summer). I would hold stops at $30.99 if you trade this ETF.
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