Money flow on the hourly chart has moved back up ... most of the indicators are back up at the top of
their cycles. The only item that has not cycled back to the top is the Green line with price ... this is a primary indicator or price. I would wait until money flow has cycled back down again and the market looked
okay from a
technical standpoint before I would attempt a long position for the very near term.
On the daily chart the money flow has made a small turn but still is pointed down. Based on the daily chart price is still in a down mode. We will have to wait and see what the dollar is going to do. Today we had a 84% up volume day on the NYSE and $2.3 billion of cash inflow.
A look at the dollar ... still looks to making a bottom.
One area to look at ... Junk Bonds ... there is a divergence in price to the downside. If this breaks down ... watch out.
Money flow on the hourly chart has moved back up ... most of the indicators are back up at the top of their cycles. The only item that has not cycled back to the top is the Green line with price ... this is a primary indicator or price. I would wait until money flow has cycled back down again and the market looked okay from a technical standpoint before I would attempt a long position for the very near term.
On the daily chart the money flow has made a small turn but still is pointed down. Based on the daily chart price is still in a down mode. We will have to wait and see what the dollar is going to do. Today we had a 84% up volume day on the NYSE and $2.3 billion of cash inflow.
A look at the dollar ... still looks to making a bottom.
One area to look at ... Junk Bonds ... there is a divergence in price to the downside. If this breaks down ... watch out. 
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