This is an hourly chart of the Dow. All indicators are pointing to a short term top from an hourly perspective. It was not good that the Dow could not hold onto to its early gains this afternoon.
Volume was down again today for the Dow. All the daily indicators are pointing to a near term bottom for this cycle (Money Flow - Blue line, Tick Data, Volume strength and the 5 Day modified RSI). I would wait until I have some kind of confirmation on price before shorting. I know that the 11
th was the day to short but I missed that window. Today money inflow for the overall market was light and we had a 70% plus up volume day on the NYSE. I'm going to wait until we see some price appreciation on lower volume before I look to short this market (if the setup occurs).
This is an hourly chart of the Dow. All indicators are pointing to a short term top from an hourly perspective. It was not good that the Dow could not hold onto to its early gains this afternoon.
Volume was down again today for the Dow. All the daily indicators are pointing to a near term bottom for this cycle (Money Flow - Blue line, Tick Data, Volume strength and the 5 Day modified RSI). I would wait until I have some kind of confirmation on price before shorting. I know that the 11th was the day to short but I missed that window. Today money inflow for the overall market was light and we had a 70% plus up volume day on the NYSE. I'm going to wait until we see some price appreciation on lower volume before I look to short this market (if the setup occurs). 
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