The hourly chart is very overbought. I would not be buying at this point. I may be wrong ... I had rather wait until I get a better opportunity with when both price and the indicators are cooperating a little better. If I did buy here I would keep my stops very tight. Price looks like it has been shot out of a cannon over the last week now.
Daily price on the short term with the indicators below the price chart are overbought. However, the blue line (money flow) and green line (price cycle) are still up. Everything looks very good here. I could be wrong ... but I would wait a little before I would buy anything ... at some point the market will look to have some kind of correction and then I believe we are off to the races again. The NYSE had an up volume day of 76% and we had $2.5 billion of cash flow into the market today.
The hourly chart is very overbought. I would not be buying at this point. I may be wrong ... I had rather wait until I get a better opportunity with when both price and the indicators are cooperating a little better. If I did buy here I would keep my stops very tight. Price looks like it has been shot out of a cannon over the last week now.
Daily price on the short term with the indicators below the price chart are overbought. However, the blue line (money flow) and green line (price cycle) are still up. Everything looks very good here. I could be wrong ... but I would wait a little before I would buy anything ... at some point the market will look to have some kind of correction and then I believe we are off to the races again. The NYSE had an up volume day of 76% and we had $2.5 billion of cash flow into the market today. 
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