Money flow on the hourly chart has completed its move to the top of the cycle ... therefore ... I believe now is as good as any time to short if one is inclined to do so. We may get a move up in the next day or two ... or not ... only time will tell and the direction of the dollar.
The daily actual money flow has turn down but the my modified indicator has not. We may still see some strength ... but its all going to come down to the dollar. All the daily indicators are topping on the bottom of the chart. Today we had a 69% up volume day with pretty good inflow of cash. We did have some selling on strength day for SPY and we did have a lower volume day. This might be a sign that this phase of the bull is slowing some and is looking for a resting place ... not a crash ... but a resting place for a few days or weeks.
The dollar was down today. This is going to determine in the near term the direction of stocks.
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