The primary indicator is pointed down (green line) ... everything else including the tick data looks to have some support. But ... its all going to come down to the dollar.
Money flow and the other short term indicators look like this move is almost over (based only on the indicators). One could take a short ... but I would not want to hold this position over the weekend ... who knows what the market is going to look like before it opens. Today we had a 68% up volume day with flat cash flows. We also had some selling on strength today with SPY (the ETF for the S&P 500). But ... its all going to come down to the dollar.
Dollar looks weak here ... I would not short it at these levels.
The primary indicator is pointed down (green line) ... everything else including the tick data looks to have some support. But ... its all going to come down to the dollar.
Money flow and the other short term indicators look like this move is almost over (based only on the indicators). One could take a short ... but I would not want to hold this position over the weekend ... who knows what the market is going to look like before it opens. Today we had a 68% up volume day with flat cash flows. We also had some selling on strength today with SPY (the ETF for the S&P 500). But ... its all going to come down to the dollar.
Dollar looks weak here ... I would not short it at these levels.
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