Thursday, October 15, 2009

Stock Market Update - October 15, 2009

It looks like money flow has an aborted cycle bottom which means this is a bullish run. I would wait until we see the cycle top for money flow or the second cycle top for money flow before I would exit any short term longs or look to short the market for the very near term.
The near term for the daily chart shows money flow has peaked ... but this can bounce around the top for a few days while price continues to climb. This is just a thought ... not what really is going to occur. We just need to watch the money flow to guide us as well as the other short term indicators. Today was a massive inflow of cash for the market and we had a 51% up volume day on the NYSE.

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