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.
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.
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Equities,
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