The hourly chart looks to be bottoming ... we may have some weakness still left. The short term indicators are topping at the bottom but the green line looks to making coming to the end of its move down ... remember things can stay oversold for a while.
Money flow on the daily chart has turned back down ... also the very short term indicators are bottoming (see below price chart). The green line which measures price is turning down ... are we heading into another Summer/Fall decline of 2008? Could be ... but I still think based on where the money flow is lining up we still have one more push up ... possibly. Today we had an 84% up volume day on the NYSE and on the broader market we had a cash inflow of about $1.3 billion. Volume is drying up ... just like last summer.
Here we go ... I write about this most every night ... its going to come down to the dollar. We may make a double bottom here before we head back up.
The hourly chart looks to be bottoming ... we may have some weakness still left. The short term indicators are topping at the bottom but the green line looks to making coming to the end of its move down ... remember things can stay oversold for a while.
Money flow on the daily chart has turned back down ... also the very short term indicators are bottoming (see below price chart). The green line which measures price is turning down ... are we heading into another Summer/Fall decline of 2008? Could be ... but I still think based on where the money flow is lining up we still have one more push up ... possibly. Today we had an 84% up volume day on the NYSE and on the broader market we had a cash inflow of about $1.3 billion. Volume is drying up ... just like last summer.
Here we go ... I write about this most every night ... its going to come down to the dollar. We may make a double bottom here before we head back up. 
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