The daily chart shows that money flow has reached the top again on the actual indicator and close to the top on the modified indicator. Also, the other indicators below are measuring a top in price. I will say it again we will need to understand what the performance of the dollar is going to be if we are take a short position.
Tuesday, October 13, 2009
Stock Market Update - October 13, 2009
Before I think of even shorting this market I am going to wait until the money flow reaches the to of the cycle again ... this may occur over the next two or three day. Then and only then will a determination will be made to short ... I don't believe we will have a crash but it may be good for a few points. A lot is going to depend on what kind of shape the dollar is in at the time which closed lower today.
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