Here is a look at the hourly chart for the Dow.
The daily chart shows that the money flow has peaked. The only question is how much the market will move to the downside and will it be a slow move over the next few days, weeks or months. On Monday we had a 79% down volume day on the NYSE and on the broader market we had a large outflow of cash.
The dollar is holding up here and this looks to be a major support. Time will tell where we go over the next few weeks ... we could stay in a range. That would frustrate almost everyone who are expecting things to move one way or anther.
Here is a look at the hourly chart for the Dow.
The daily chart shows that the money flow has peaked. The only question is how much the market will move to the downside and will it be a slow move over the next few days, weeks or months. On Monday we had a 79% down volume day on the NYSE and on the broader market we had a large outflow of cash.
The dollar is holding up here and this looks to be a major support. Time will tell where we go over the next few weeks ... we could stay in a range. That would frustrate almost everyone who are expecting things to move one way or anther. 
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